Gautam Adani Indicted on Fraud Charges in US

Gautam Adani, the Indian billionaire and head of the Adani Group, has been indicted in the United States on charges of securities fraud and conspiracy related to a solar energy project in India. U.S. prosecutors allege he concealed a bribery scheme involving over $250 million paid to Indian officials to secure lucrative contracts, misleading investors who contributed billions to the project. The indictment, unsealed recently in New York, also includes charges against Adani's nephew and other executives for their roles in the alleged scheme. The Adani Group has faced scrutiny since 2023, following accusations of stock manipulation and accounting fraud that prompted a significant market sell-off. Prosecutors emphasize the need to root out corruption in international markets, highlighting the serious implications of such fraudulent activities for investor trust. U.S. authorities have issued arrest warrants for Adani and some associates, intending to collaborate with foreign law enforcement for their apprehension.