Gautam Adani, chairman of Indian conglomerate Adani Group and one of the world's richest men, has been indicted in New York on charges of a multibillion-dollar fraud scheme, US prosecutors announced Wednesday. did.
Authorities have targeted Adani and two other Adani Green Energy executives, nephews Sagar Adani and Vneet Jain, for a solar energy supply contract expected to bring in $2 billion in revenue starting in 2020. He was charged with agreeing to pay more than $250 million in bribes to Indian government officials over the course of 2024. profit.
Prosecutors said the renewable energy company also raised more than $3 billion in loans and bonds during this period based on false and misleading statements.
Five other people were charged with related conspiracy charges, including two executives from another renewable energy company and three employees of a Canadian institutional investor.
Adani Group did not immediately respond to a request for comment after business hours in India, where the charges were announced early Thursday.
The Indian embassy in Washington did not respond to a request for comment.
According to court records, a judge has issued arrest warrants for Gautam Adani and Sagar Adani, and prosecutors plan to hand over those warrants to foreign law enforcement agencies.
According to prosecutors, seven of the eight defendants were Indian citizens living in India, while the eighth, Cyril Cabanes, had dual French and Australian citizenship and lived in Singapore.
The Securities and Exchange Commission has filed a related civil lawsuit against Azure Power Global executives Gautam Adani, Sagar Adani, and Kabanes (50). Prosecutors identified Cabanes as one of the Canadian investors' employees.
According to Forbes magazine, Gautam Adani is worth $69.8 billion, making him the 22nd richest person in the world.
