Gautam Adani, one of the world's richest men and the chairman of India's Adani Group, has been charged with fraud. It is said that he cheated investors in a huge solar power project in his country by paying bribes of more than 25 crore dollars in the United States.
He was charged in a New York court on Wednesday (November 20) with involvement in a bribery scheme of 25 crore dollars and also collecting money from the US market while keeping the matter secret. In addition to Adani, many others associated with his business and project has been charged. Times of India and BBC reported.
Adani is accused of defrauding investors who invested billions of dollars in a project. He failed to inform them of his plan to bribe Indian officials to get this lucrative solar power supply contract.
The complaint also said that Gautam Adani himself met government officials several times to advance the bribery scheme.
“The indictment alleges that they sought to ‘use U.S. investors to obtain and finance massive energy contracts nationwide through corruption and fraud,’” said Deputy Assistant Attorney General Lisa Miller.
“We have taken a strong stance against international corruption to protect the integrity of our financial markets,” said U.S. Attorney Brian Pease.