Billionaire Adani Charged in $265M Solar Project Bribery Scheme
GautamBillionaire Adani Charged in Investor$265M FraudSolar Project Bribery Scheme
The Facts
The indictment alleges that Adani and his co-defendants paid or planned to pay approximately $265 million in bribes to Indian government officials in exchange for billions of dollars worth of contracts and financing.
Prosecutors claim the defendants misled Wall Street investors who invested several billion dollars while concealing the alleged bribery scheme involving Adani Green Energy Ltd.'s 12-gigawatt solar power project.
The Spin
The allegations follow a pattern of targeted attacks on successful Indian businesses expanding globally. The timing and nature of these charges raise questions about the motivations behind the investigation, especially considering the previous controversial claims by short-sellers targeting the Adani Group.
