The indictment — against Adani and seven other defendants, including his nephew Sagar Adani — portrays Adani and his co-defendants of playing two sides of the...
Indian businessman Gautam Adani, who is one of the world’s richest people, has been indicted in the U.S. on charges he duped investors by concealing that his company's huge solar energy project on the subcontinent was being facilitated by an alleged bribery scheme., has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme, U.S. prosecutors said on Wednesday.
Among the other defendants are Ranjit Gupta and Rupesh Agarwal, respectively a former chief executive and former chief strategy and commercial officer of Azure Power Global, and Cyril Cabanes, a director there.Seven of the defendants are Indian citizens who lived in India during the relevant period, while Cabanes is a dual French-Australian citizen who lived in Singapore, prosecutors said.
Adani is a power player in the world’s most populous nation. He built his fortune in the coal business in the 1990s. The Adani Group grew to involve many aspects of Indian life, from making defense equipment to building roads to selling cooking oil.
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