Indian billionaire Gautam Adani is accused of agreeing to pay pay more than US$250 million in bribes to government officials to obtain solar energy supply contracts worth US$2 billion.
Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port on Jan 31, 2023. NEW YORK: Billionaire Indian industrialist Gautam Adani has been charged with paying hundreds of millions of dollars of bribes and hiding the payments from investors, US prosecutors said on Wednesday .
Prosecutors said the renewable energy company also raised more than US$3 billion in loans and bonds during this period on the basis of false and misleading statements. "This indictment alleges schemes to pay over US$250 million in bribes to Indian government officials, to lie to investors and banks to raise billions of dollars, and to obstruct justice," said Deputy Assistant Attorney General Lisa Miller.
Adani was born in Ahmedabad, Gujarat state, to a middle-class family but dropped out of school at 16 and moved to financial capital Mumbai to find work in the city's lucrative gem trade.
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