Gautam Adani Indicted on Bribery Charges

Indian billionaire Gautam Adani has been indicted in New York for allegedly orchestrating a bribery scheme involving over $265 million to secure lucrative solar energy contracts from Indian officials. The U.S. Securities and Exchange Commission has charged Adani and several associates, including his nephew, with defrauding American investors through false statements while raising funds for Adani Green Energy and Azure Power. The indictment highlights violations of the Foreign Corrupt Practices Act, with accusations that Adani's group concealed corrupt payments while raising over $3 billion in loans. These charges come amidst ongoing scrutiny of the Adani Group following previous allegations of accounting fraud by Hindenburg Research. The repercussions of this indictment could exacerbate the public relations crisis faced by Adani Group, which has been attempting to recover from past controversies. Arrest warrants have been issued for Adani and his associates as the investigation unfolds.