Gautam Adani: Case Against Prominent Businessman in the U.S

Prominent Indian businessman Gautam Adani has been charged with serious offenses. A case has been filed against seven individuals, including Adani, in a federal court in New York on charges of fraud and bribery. According to the United States Attorney's Office, Adani allegedly promised to pay $250 million (over ₹21 billion) in bribes to Indian officials to secure a solar power project in India.

He is accused of deceiving international investors and banks, including those in the U.S., to raise this amount. The individuals facing charges include officials from Adani Green Energy Limited and close associates of the businessman, Sagar and Vineet Jain. Reports indicate that arrest warrants have been issued for both Gautam Adani and Sagar Adani.

The charges extend to Sagar R. Adani, Vineet S. Jain, Ranjit Gupta, Rupesh Agarwal, Deepak Malhotra, Saurabh Agarwal, and Cyril Cabanage. However, there has been no official response from the Adani Group regarding these allegations.

The indictment claims that between 2020 and 2024, the accused utilized fraudulent methods to obtain a solar power contract. They allegedly conspired to bribe Indian officials with $250 million, with profitable returns from this contract estimated to exceed $2 billion over a 20-year period. To achieve this, they reportedly raised loans and bonds based on false claims and schemes.

Regarding the collection of funds, it was stated that some of this money was sourced from American companies. In the court proceedings related to this case in New York, it was revealed that funds were collected through misleading advertisements, violating anti-bribery policies. Notably, the court mentioned that the accused also conspired to obstruct investigations by the FBI and the U.S. Securities and Exchange Commission (SEC).