Gautam Adani Indicted in U.S. for Bribery and Fraud Scheme

Gautam Adani, chairman of the Adani Group, has been indicted in New York for his alleged role in a multimillion-dollar bribery and fraud scheme. Along with seven co-defendants, including his nephew, Sagar Adani, he is accused of paying $250 million in bribes to Indian officials to secure contracts for a solar power project expected to generate $2 billion in profits. The charges include securities fraud, conspiracy, and wire fraud. Arrest warrants have been issued, but none of the defendants are in custody. This legal action follows controversies surrounding the Adani Group, including a recent $150 billion market value loss after allegations from Hindenburg Research.