NEW YORK – Indian billionaire Gautam Adani has been accused of fraud in the United States, including orchestrating a $250 million bribery scheme and concealing it to raise funds in the US.
The criminal charges filed in New York are the latest setback for 62-year-old Adani, one of India’s wealthiest individuals, whose business empire spans sectors such as ports, airports, and renewable energy.
The prosecutors alleged in the indictment that the business tycoon and other senior executives agreed to pay the Indian officials to secure contracts for his renewable energy company, which were expected to yield over $2billion in profits over 20 years.
The group has been operating in the US since 2023 following a high-profile report accusing it of fraudulent activities.
Announcing the charges, US Attorney Breon Peace said in a statement: “As alleged, the defendants devised an extensive scheme to bribe the Indian government officials to secure multi-billion-dollar contracts and lied about the bribery scheme while attempting to raise funds from US and international investors,”.
The officials revealed that Adani personally met with the government officials on several occasions to advance the bribery scheme.
Last week, Adani congratulated Donald Trump on his election victory via social media and pledged a $10 billion investment in the US.
