Gautam Adani, chair of the Adani Group, and two Adani Green Energy executives, Sagar Adani and Vneet Jaain, have been indicted in New York for allegedly orchestrating a multibillion-dollar fraud scheme. U.S. prosecutors claim the trio paid $250 million in bribes between 2020 and 2024 to Indian officials to secure $2 billion in solar energy contracts. Adani Green Energy also raised over $3 billion through false statements. Arrest warrants have been issued for Gautam and Sagar Adani, with plans to involve foreign law enforcement. The allegations further strain Adani Group's reputation as Gautam Adani ranks as the world’s 22nd richest person.
first published: Nov 21, 2024 12:30 pm
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