Trouble For Adani Group? Arrest Warrants Issued For Gautam Adani And Nephew Sagar Adani In US
Gautam Adani indicted in US on bribery and fraud charges. Billionaire Gautam Adani, chair of Adani Group, charged in New York with bribery and fraud, along with seven others. The Billionaire is accused of paying $265 million in bribes to secure contracts for India’s largest solar power plant, projected to generate $2 billion in profits over 20 years. Allegations include raising over $3 billion in loans and bonds by concealing corruption from lenders and investors. “The charges underscore the serious consequences of undermining global financial integrity,” stated U.S. Attorney Breon Peace. Code names like ‘Numero Uno’ and ‘the big man’ reportedly used for Adani, with his nephew Sagar Adani tracking bribes on his phone. Furthermore,, arrest warrants have been issued for Gautam and Sagar Adani. Charges include securities fraud, wire fraud conspiracy, and violations of U.S. anti-bribery laws. Adani Group has not yet commented on the case.
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