Gautam Adani, head of the Adani Group and one of the world’s wealthiest individuals, faces charges in New York for his alleged involvement in a multibillion-dollar fraud scheme. U.S.
Prosecutors accuse Adani, along with Adani Green Energy executives Sagar Adani and Vneet Jaain, of agreeing to pay over $250 million in bribes between 2020 and 2024 to secure solar energy contracts worth an estimated $2 billion.
Additionally, the company is alleged to have raised more than $3 billion through fraudulent financial statements.
Seven other individuals, including executives from a rival energy firm and employees of a Canadian investor, also face charges.
Arrest warrants have been issued for Adani and his nephew, while the U.S. Securities and Exchange Commission has filed civil charges.
Adani, worth $69.8 billion according to Forbes, is the 22nd richest person globally.
