New Delhi. Veteran industrialist Gautam Adani has been accused of being involved in an alleged $250 million fraud and bribery case in America. According to reports, Adani Group founder and chairman Gautam Adani and seven others have been charged with involvement in the $2 billion fraud and bribery scandal. In which it is alleged that the group paid a bribe of $ 265 million to Indian officials to get solar energy contracts to earn billions of dollars in profits.
Under the US Foreign Corrupt Practices Act, Adani and his associates have been accused of giving false information to obtain loans and bonds worth more than $3 billion. Prosecutors claim the conspirators used code names for Adani such as “Numero Uno” and “The Big Man”. Arrest warrants have been issued for Adani, his nephew Sagar Adani and others.
Deputy Assistant Attorney General Lisa H. Miller said, this case relates to bribery of more than $250 million to Indian government officials, lying to investors and banks, and obstruction of justice. The US Securities and Exchange Commission has also filed civil charges, adding to Adani Group’s legal troubles.
At present, there has been no comment from the group on this matter. But one thing is clear that this case is another big blow for Adani. Earlier in January 2023, he had to face allegations of stock manipulation and misuse of tax benefits of Hindenburg Research. Due to that report, the market value of Adani Group fell by 150 billion dollars. However the company had denied the allegations.
Source : palpalindia
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