Gautam Adani, the chairman of one of the world's richest Indian conglomerates, has been charged with bribery and fraud in the United States.
Federal prosecutors in New York on Wednesday indicted Gautam Adani and several of his associates.
The indictment alleges that Gautam Adani and his associates bribed Indian government officials and later lied to investors about the payments.
The U.S. Attorney's Office for the Eastern District of New York announced the formal indictment of Gautam Adani and others in a statement.
The indictment against the defendants states that they paid more than $250 million in bribes to Indian government officials to secure work on solar power projects for Adani Green Energy.
US prosecutors said that Gautam Adani himself discussed the matter with the relevant government officials.
The indictment also states that Adani Green Energy then tried to raise investment money from US and international investors. For this, they issued bonds. In this case, they gave false and misleading information about the company's anti-corruption and anti-bribery efforts.
In a statement, District Attorney Brian Peace said that the defendants lied about the bribes. Because they wanted to raise capital (investment) from US and international investors.
According to a report by the news agency Reuters, seven people have been charged in addition to Gautam Adani. Among them are Gautam Adani's relative Sagar Adani, and Vineet S. Jain, the former CEO of Adani Green Energy. The judge has issued an arrest warrant against Gautam Adani and Sagar Adani.
The New York Times could not immediately reach Gautam Adani's lawyer for comment. Sagar Adani's lawyer declined to comment.
Gautam Adani is the owner of more than $85 billion in assets from the Adani Group, which has businesses including seaports, coal mines, airport operations, and energy.
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