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US bribery charges against Indian billionaire Gautam Adani have implicated Caisse de Depot et Placement du Quebec, one of Canada’s largest public pension managers. Three former employees, including managing director Cyril Cabanes, face conspiracy charges related to violations of the Foreign Corrupt Practices Act.
Shares of Adani Group plummeted after chairman Gautam Adani was indicted in a New York federal court for allegedly orchestrating a $250 million bribery scheme to secure solar energy contracts. Adani Enterprises fell 10%, while Adani Green Energy dropped 17.28%. The indictment also implicated two executives from Adani Green Energy and several former employees of Azure Power Global, amid ongoing scrutiny following previous allegations of accounting fraud by Hindenburg Research.
CDPQ announced the termination of former employees charged in a U.S. indictment for allegedly bribing Indian government officials. The pension fund, which has significant investments in India, stated that it is cooperating with U.S. authorities regarding the case involving former employees and Indian billionaire Gautam Adani.
Deepak Malhotra
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Adani bribery charges implicate Quebec pension fund executives in scandal
Adani Group
Caisse de Depot et Placement du Quebec
CAN
Saurabh Agarwal
Cyril Cabanes
Deepak Malhotra
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03:15 22.11.2024
adani group shares plunge after chairman charged with fraud in new york
United States Dollar
Adani Wilmar Limited
Adani Green Energy Limited
Caisse de Depot et Placement du Quebec
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IND
CAN
Gautam Adani
Vneet Jaain
Saurabh Agarwal
Rupesh Agarwal
Cyril Cabanes
Ranjit Gupta
Sagar Adani
Deepak Malhotra
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04:56 21.11.2024
cdpq terminates employees indicted for bribery in us case
04:36 21.11.2024
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