News@lemmy.worldEnglish · 15 hours ago

Billionaire Gautam Adani charged in US over alleged $250m bribery plot

www.theguardian.com

Billionaire Gautam Adani charged in US over alleged $250m bribery plot

www.theguardian.com

MicroWave@lemmy.world to

News@lemmy.worldEnglish · 15 hours ago

Indian chair of Adani Group, worth about $85bn, accused of agreeing to pay bribes to obtain solar energy contracts

Summary

Billionaire Gautam Adani and two executives were charged in New York with orchestrating a $250 million bribery scheme to secure lucrative solar energy contracts in India, expected to yield $2 billion in profits.

U.S. prosecutors allege Adani bribed Indian officials between 2020 and 2024, concealed the scheme from U.S. investors, and engaged in securities and wire fraud.

The SEC also filed charges, citing corruption and deception.

Adani, whose fortune is estimated at $85 billion, previously faced allegations of stock manipulation and fraud, which he has denied.

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14 hours ago
As an Australian this makes me extremely happy. Fuck Adani and Adani Group.

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