- Adani pays bribes to government officials to obtain solar supply contracts.
- Renewable energy company raises more than $3 billion in loans: prosecutors
- The judge issues arrest warrants for Gautam and Sagar Adani, according to court records.
Gautam Adani, chairman of India’s Adani Group and one of the world’s richest people, has been indicted in New York over an alleged multi-billion-dollar fraud scheme, US prosecutors said on Wednesday. Reuters I mentioned.
Authorities have accused Adani and two other Adani Green Energy executives, his nephew Sagar Adani and Vineet Jain, of agreeing between 2020 and 2024 to pay more than $250 million in bribes to Indian government officials to obtain solar supply contracts expected to generate $2 billion. In 2020. Earnings.
The renewable energy company also raised more than $3 billion in loans and bonds during this period based on false and misleading statements, prosecutors said.
Five other people have been charged with related criminal conspiracy charges, including two executives of another renewable energy company and three employees of a Canadian investment trust.
The Adani Group did not immediately respond to requests for comment outside business hours in India, where the charges were announced early Thursday morning.
The Indian Embassy in Washington did not immediately respond to a request for comment.
According to court records, the judge issued arrest warrants for Gautam Adani and Sagar Adani, and prosecutors plan to turn those warrants over to foreign law enforcement authorities.
Prosecutors said seven of the eight defendants are Indian citizens and live in India, while the eighth, Cyril Cabaniss, is a dual French-Australian citizen living in Singapore. The SEC filed related civil charges against Gautam Adani, Sagar Adani and Kapanese, 50, an executive at Azure Power Global. Prosecutors identified Cabaniss as an employee of the Canadian investor.
Gautam Adani is worth $69.8 billion, according to Forbes, making him the 22nd richest person in the world.