Brief by Shorts91 Newsdesk / 05:19am on 21 Nov 2024,Thursday India Global
Indian billionaire Gautam Adani and his nephew Sagar Adani face charges in New York for an alleged $265 million bribery and fraud scheme linked to India’s largest solar power project. U.S. prosecutors allege bribes were paid to Indian officials to secure contracts promising $2 billion in profits over 20 years. Additional charges include securities fraud and wire fraud conspiracy. The Adanis, alongside other executives, allegedly concealed corruption while raising $3 billion in loans and bonds. Arrest warrants for the Adanis have been issued. Adani Group denies the accusations. This follows earlier controversies, including allegations of offshore tax haven misuse.
