An Indian businessman who is one of the world’s richest people has been indicted in the U.S. on charges he duped investors in a massive solar energy project in his home country by concealing that it was facilitated by alleged bribery
FILE - India's Adani Group Chairman Gautam Adani addresses the Vibrant Gujarat Global Summit in Gandhinagar, India, Jan.10, 2024. .
Gautam Adani, 62, was charged in an indictment unsealed Wednesday with securities fraud and conspiring to commit securities and wire fraud. He is accused of defrauding investors who poured several billion dollars into the project by failing to tell them about more than $250 million in bribes paid to Indian officials to secure lucrative solar energy supply contracts.Gautam Adani is a power player in the world’s most populous nation. He built his fortune in the coal business coal in the 1990s. His Adani Group grew to involve many aspects of Indian life, from making defense equipment to building roads to selling cooking oil.U.S.
accused Adani his company of “brazen stock manipulation” and “accounting fraud.” The Adani Group called the claims “a malicious combination of selective misinformation and stale, baseless and discredited allegations.” The firm in question is known as a short-seller, a Wall Street term for traders that essentially bet on the prices of certain stocks to fall, and it had made such investments in relation to the Adani Group.
Financial Services Business U.S. News General News Article 116065385
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US charges billionaire Gautam Adani with defrauding investors, hiding plan to bribe Indian officialsAn Indian businessman who is one of the world’s richest people has been indicted in the U.S. on charges he duped investors in a massive solar energy project in his home country by concealing that it was facilitated by alleged bribery.
Read more »
US charges billionaire Gautam Adani with defrauding investors, hiding plan to bribe Indian officialsAn Indian businessman who is one of the world’s richest people has been indicted in the U.S. on charges he duped investors in a massive solar energy project in his home country by concealing that it was facilitated by alleged bribery.
Read more »
US charges billionaire Gautam Adani with defrauding investors, hiding plan to bribe Indian officialsAn Indian businessman who is one of the world’s richest people has been indicted in the U.S. on charges he duped investors in a massive solar energy project in his home country by concealing that it was facilitated by alleged bribery.
Read more »
Billionaire Gautam Adani charged in New York with massive fraudGautam Adani was been indicted in New York federal court with other defendants in connection with an alleged multi-billion-dollar fraud scheme. The billionaire…
Read more »
As Harris, Ramaswamy and Usha Vance gained traction, Indian Americans faced harassmentSakshi Venkatraman is a reporter for NBC Asian America.
Read more »
Disney, Reliance Close Megadeal to Form Indian Entertainment PowerhouseThe joint venture will be one of the largest Media & Entertainment companies in India with pro forma combined revenue of approximately $3.1 billion.
Read more »