US federal prosecutors have leveled serious charges against Gautam Adani, alleging a massive $250 million bribery scheme designed to secure lucrative solar energy contracts in India.
According to BBC, the five-count indictment not only targets Adani himself but also implicates two key executives from his renewable energy company: his nephew Sagar R. Adani and Vneet S. Jaain.
US Attorney Breon Peace stated,
“The defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars.”
The prosecutors argue that the group attempted to conceal their plans while seeking investments from US markets, a move that allows American federal prosecutors to pursue foreign corruption allegations.
“The defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars,” – Breon Peace, US Attorney for the Eastern District of New York
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Financial Standing
Currently ranked as the world’s 18th richest person and India’s second-wealthiest individual, Adani’s net worth stands at an impressive $85.5 billion, according to the Bloomberg Billionaires Index.
