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adani group founder charged in us bribery case for solar contracts

Adani Group's founder, Gautam Adani, has been charged in the US with a $250 million bribery scheme related to solar energy contracts in India. The indictment alleges that he, along with Sagar R Adani and Vneet S Jaain, made false statements to investors and obstructed justice by deleting evidence. The SEC has also filed a separate civil lawsuit against them.

gautam adani indicted for bribery in solar power contracts scheme

Indian billionaire Gautam Adani has been indicted in New York for allegedly orchestrating a bribery scheme involving Indian officials to secure solar power contracts worth billions. Alongside seven executives, including his nephew, he faces charges of securities fraud and conspiracy, which could exacerbate the ongoing public relations crisis for Adani Group following previous allegations of accounting fraud. The SEC claims that the defendants misled US investors about their anti-bribery compliance while raising significant capital during the scheme.

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