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Gautam Adani, indicted in US, is a controversial first-generation Indian tycoon

NEW DELHI, Nov 21 (Reuters) – Indian billionaire Gautam Adani, indicted in New York over a $265 million bribery scheme, is a first-generation tycoon whose phenomenal rise has been accompanied by a series of damaging controversies at home and abroad. Asia’s second-richest person, who narrowly escaped death in 2008 as one of many people stuck inside Mumbai’s Taj Mahal Palace Hotel when gunmen went on a killing spree, faces a U.S. arrest warrant and criminal penalties over the fraud and bribery charges. Adani’s businesses, ranging from power and ports to sugar and soybeans, lost more than $150 billion in combined

US charges tycoon Gautam Adani with defrauding investors, hiding plan to bribe Indian officials

NEW YORK (AP), November 21, 2024 — An Indian businessman who is one of the world’s richest people has been indicted in the U.S. on charges he duped investors by concealing that his company’s huge solar energy project on the subcontinent was being facilitated by an alleged bribery scheme. In an indictment unsealed by Federal prosecutors in New York on Wednesday, Adani, 62, was charged with securities fraud and conspiracy to commit securities and wire fraud. The case involves a lucrative arrangement for Adani Green Energy Ltd. and another firm to sell 12 gigawatts of solar power to the Indian

Vindicates demand for JPC probe: Congress on charges against Adani in US

New Delhi, Nov 21 (PTI) With billionaire Gautam Adani charged in the US with alleged bribery and fraud, the Congress on Thursday said it “vindicates” its demand for a Joint Parliamentary Committee investigation into the various “scams” involving his conglomerate. The opposition party also called for “a new and credible” Sebi head to be appointed to complete the securities law investigations into the “Adani Mega Scam”. Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay $ 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. US

Gautam Adani charged in US with bribery; Adani Group shares tumble

Nov 21 (Reuters) – Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world’s richest people, has been indicted in New York over his role in a $265 million bribery scheme, according to U.S. prosecutors. U.S authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay the bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India’s largest solar power plant project. A judge has issued arrest warrants for Gautam Adani and Sagar Adani and prosecutors plan to hand

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