Brief by Shorts91 Newsdesk / 10:38am on 21 Nov 2024,Thursday Business
A New York judge has issued arrest warrants for Gautam Adani, Sagar Adani, and others for alleged involvement in a ₹2,236 crore bribery and fraud scheme to secure solar energy contracts in India. Prosecutors allege Adani Group executives offered bribes to government officials, including ₹1,750 crore to a top Andhra Pradesh official. Evidence reportedly includes detailed bribe tracking on phones and documents. The scheme spanned 2020-2024, raising $3 billion while concealing misconduct. Gautam Adani faces charges of securities and wire fraud conspiracy. Following the indictment, Adani Group subsidiaries canceled proposed dollar bond offerings.
