US charges Indian billionaire Gautam Adani with fraud

Published On Nov 20, 2024, 5:05 PM

Indian billionaire Gautam Adani has been charged with orchestrating a $250 million bribery scheme in the US. Prosecutors allege that Adani and other executives made payments to Indian officials to secure contracts for a renewable energy company, while misleading investors about their anti-bribery practices and concealing details of a bribery probe. This indictment follows previous allegations of fraud that have caused significant market repercussions for the Adani Group, which is linked to various sectors including renewable energy and infrastructure.