Gautam Adani charged with fraud in US
Indian billionaire and NDTV owner Gautam Adani has been charged with fraud in the United States.
According to a report by the BBC, Adani has been accused of orchestrating a $250 million (£198 million) bribery scheme and concealing it to secure funding in the US.
The charges, filed in New York on Wednesday, allege that Adani and senior executives from his renewable energy company arranged payments to Indian officials to secure lucrative contracts. These contracts were reportedly projected to generate over $2 billion in profits across two decades.
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The Adani Group has dismissed the accusations as “baseless.” In a statement, the company asserted:
“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied. As stated by the US Department of Justice itself, ‘the charges in the indictment are allegations, and the defendants are presumed innocent unless and until proven guilty’.”
The group also emphasised its adherence to global legal standards, adding:
“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency, and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners, and employees that we are a law-abiding organisation, fully compliant with all laws.”
