SEOUL, November 21 (AJP) - Gautam Adani, India's second-richest individual, was indicted in New York on Wednesday.
Adani and his accomplices are accused of offering billions of dollars in bribes and committing other crimes.
The U.S. District Court for the Eastern District of New York announced that Adani and seven accomplices have been charged with bribing Indian government officials with more than $250 million to secure lucrative solar energy supply contracts.
Prosecutors claim these contracts, obtained through bribes, are expected to generate post-tax profits exceeding $2 billion over the next 20 years.
Adani's conglomerate, the Adani Group, primarily focuses on public infrastructure projects, including roads, power plants, and ports under government contracts.
According to prosecutors, Adani personally met with Indian government officials from 2020 to 2024, offering bribes on multiple occasions.
Executives at Adani Green Energy, including Gautam Adani's nephew Sagar Adani and Vineet Jain, have also been indicted.
They are accused of violating anti-bribery and corporate anti-corruption regulations, misleading U.S. and international investors. Despite offering bribes, they allegedly disguised these actions to attract investments.
Adani Green Energy raised over $2 billion through an investment consortium comprising U.S. and international investors, which it used to advance energy supply projects secured through deals with the Indian government.
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