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Tag: US indictment

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US indicts Adani for bribing officials in India, misleading investors; issues arrest warrants – Times of India

US prosecutors have indicted billionaire Gautam Adani and his nephew, Sagar Adani, among others, for their alleged role in a $265 million (Rs 2,000 crore) bribery case to secure solar power supply contracts in India, plunging the edible oil-to-ports giant into a second major controversy in 22 months, after the allegations by short-seller Hindenburg Research.Arrest warrants have been issued in the US for Gautam and Sagar Adani and US prosecutors plan to hand those warrants to foreign law enforcement, according to court records, Reuters reported.Early Wednesday, the US Department of Justice (DoJ) charged the two Adanis, former Adani Green CEO Vneet Jaain and former executives of Azure Power and Canadian pension fund CDPQ for alleged bribery to secure power purchase contracts from five states...
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Decoding US charges against Gautam Adani and others: 10 points | India News – Times of India

Adani group head Gautam Adani (Image Credit: Adani's X account) NEW DELHI: Gautam Adani and his conglomerate, the Adani Group, are at the center of a major legal and financial storm following an indictment by US prosecutors. The charges allege that Adani, his nephew Sagar Adani, and other associates orchestrated a $265 million bribery scheme to secure lucrative solar energy contracts in India. Between 2020 and 2024, the accused reportedly bribed Indian officials to gain business advantages while misleading US investors and financial institutions about their anti-corruption practices.The charges against Adani and others have been filed in the US District Court for the Eastern District of New York, a prominent federal court known for handling high-profile cases involving corporate fraud, sec...
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