Indian billionaire Gautam Adani and seven executives face charges in a US indictment related to a multi-million-dollar bribery and fraud scheme. The Department of Justice alleges the group bribed Indian officials to secure solar energy contracts worth over $2 billion. Authorities claim Adani personally met with an Indian government official to further the bribery scheme, which occurred from 2020 to 2024. Adani's group denied the accusations, calling them baseless. The charges follow previous allegations of stock manipulation and accounting fraud.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Indian billionaire Gautam Adani and seven executives are facing charges in a U.S.
00:06indictment related to a multi-million dollar bribery and fraud scheme.
00:10The Department of Justice alleges that the group bribed Indian officials to secure
00:14solar energy contracts worth over $2 billion. Authorities claim that Adani personally met
00:19with an Indian government official to further the bribery scheme which occurred from 2020 to 2024.
00:25Adani's group denied the claims, calling them baseless.
00:28The charges do follow previous allegations of stock manipulation and accounting fraud.