Gautam Adani Indicted on Bribery Charges

Gautam Adani, the chairman of the Adani Group and one of the wealthiest individuals in the world, has been indicted in the U.S. for allegedly orchestrating a scheme that involved over $250 million in bribes to Indian officials to secure solar energy contracts. The indictment, unsealed on November 20, 2024, charges him with securities fraud and conspiring to commit both securities and wire fraud, affecting investors who contributed billions to the project without knowledge of the bribery. Several associates linked to Adani and the project are also facing charges. His conglomerate, which expanded from coal into various sectors including renewable energy, has previously faced accusations of stock manipulation and accounting fraud, which Adani has dismissed as misinformation. The U.S. Attorney's Office emphasized that the scheme defrauded American investors while seeking lucrative contracts through corrupt practices. Adani Group has not publicly commented on the latest indictment.