US prosecutors accuse Indian billionaire Gautam Adani of bribing officials to win solar contracts.

US prosecutors have indicted Indian billionaire Gautam Adani and others over alleged bribery to secure solar energy contracts in India. The DOJ claims Adani promised over $250 million in bribes to Indian officials to obtain contracts worth $2 billion in profits over 20 years. Adani and his associates face charges of securities fraud, and the case has led to the cancellation of a $600 million bond offering and a significant drop in Adani Group stocks. The group denies wrongdoing, maintaining its innocence and commitment to transparency.

November 20, 2024
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