Indian billionaire Gautam Adani, Asia’s second-richest person with a net worth of $85.5 billion, has been criminally indicted in the U.S. alongside two other executives for allegedly orchestrating a massive $250 million bribery scheme.
The charges, announced by the U.S. Department of Justice, accuse Adani and his associates of offering bribes to secure lucrative solar energy contracts.
According to officials, the alleged scheme involved paying over $250 million in bribes to Indian government officials between 2020 and 2024.
These payments were intended to secure contracts projected to generate more than $2 billion in profits over two decades.
Deputy Assistant Attorney General Lisa Miller stated that the defendants used lies to mislead investors and banks while obstructing justice. Evidence, including discussions on multiple phones, allegedly highlights the defendants’ role in planning and executing the fraudulent activities.
Adani himself reportedly met with a senior Indian government official to further the scheme.
The SEC has also filed parallel charges, signaling a coordinated effort by U.S. authorities to address what they termed a “massive fraud.”
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