Gautam Adani, seat of Indian conglomerate Adani Group, addresses a gathering during the Vibrant Gujarat Global Summit 2024 successful Gandhinagar, Gujarat, India, Jan. 10, 2024.
Punit Paranjpe | AFP | Getty Images
Gautam Adani, seat of India's Adani Group and 1 of the world's richest people, was indicted successful New York with others for an alleged multi-billion-dollar fraud scheme, authorities said Wednesday.
Adani and 7 different defendants are accused of agreeing to wage much than $250 cardinal successful bribes to Indian authorities officials to get "lucrative star vigor proviso contracts with the Indian government," the U.S. Attorney's Office successful Brooklyn said.
Those contracts were projected to make much than $2 cardinal successful post-tax profits implicit 2 decades.
Adani allegedly met successful idiosyncratic with an Indian authorities authoritative connected respective occasions arsenic portion of the bribery scheme, prosecutors said.
Adani and 2 different defendants, his nephew Sagar Adani and Vneet Jaain, who are executives of Adani Green Energy Limited, are besides accused of conspiracies related to allegedly lying to U.S. and planetary investors astir the bribery strategy arsenic they sought to rise superior from those investors.
A idiosyncratic walks past rows of star panels astatine the Adani Group- owned Khavda Renewable Energy Park successful Khavda, India, Jan. 12, 2024.
Punit Paranjpe | Afp | Getty Images
The five-count indictment unsealed Wednesday besides charged Ranjit Gupta and Rupash Agarwal, who are erstwhile executives successful the renewable-energy institution Azure Power, and 3 erstwhile employees of the Canadian organization capitalist Caisse de Depot et Placement du Quebec with conspiracy to interruption the Foreign Corrupt Practices Act successful transportation with the bribery strategy by Adani.
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