Gautam Adani Charged With Bribery, Fraud Case In The US; Arrest Arrant Issued – Trak.in

US prosecutors have indicted Gautam Adani, chair of the Adani Group, for allegedly paying $265 million in bribes to Indian government officials. The bribes were reportedly aimed at securing solar energy contracts expected to generate $2 billion in profits over two decades. This case implicates Adani and seven other defendants, including his nephew, Sagar Adani, and senior Adani Green Energy executive Vneet Jaain.

Concealed Corruption in $3 Billion Fundraising

Authorities allege that Adani Group raised over $3 billion through loans and bonds by concealing corruption from lenders and investors. The allegations include breaches of the Foreign Corrupt Practices Act, a US anti-bribery law, further deepening the legal troubles for the conglomerate.

Arrest Warrants and SEC Charges

A judge has issued arrest warrants for Gautam and Sagar Adani. US prosecutors plan to engage foreign law enforcement to execute these warrants. Additionally, the Securities and Exchange Commission (SEC) has filed related civil charges against key individuals, further intensifying scrutiny of the Adani Group’s operations.

Hindenburg Report and Stock Fallout

The indictment comes less than two years after Hindenburg Research accused the Adani Group of improper use of offshore tax havens. That report triggered a $150 billion decline in the conglomerate’s stock value, raising questions about its financial integrity and governance practices.

Adani’s Response and US Investments

The Adani Group has not issued a formal statement regarding the charges. Recently, Gautam Adani announced a $10 billion investment in US energy infrastructure, potentially creating 15,000 jobs. However, these allegations may overshadow the group’s ambitious expansion plans and investor confidence.

Impact on Global Operations

These allegations cast a significant shadow over the reputation of one of India’s largest conglomerates. With international legal implications and investor trust at stake, the outcome of this case will likely influence the Adani Group’s future global operations and financial credibility.