India's Gautam Adani Charged in Massive Bribery Scheme

In a shocking development, Indian billionaire Gautam Adani has been charged by US prosecutors in a massive bribery scheme. The allegations claim that Adani and his senior executives bribed Indian government officials to secure energy contracts worth over $250 million.

According to the indictment, Adani and his seven executives paid hundreds of millions of dollars in bribes to influential Indian government officials between 2020 and 2024. The bribes were allegedly accepted in exchange for securing lucrative solar energy contracts that generated estimated profits of more than $2 billion after tax over a period of 20 years.

Prosecutors also alleged that Adani personally met with an Indian government official on several occasions to advance the scheme. In parallel, the US Securities and Exchange Commission (SEC) has charged Adani and his nephew Sagar Adani with violating federal securities laws, seeking penalties of up to $85 billion.

The allegations claim that Adani and his executives made false promises to US investors buying bonds for one of the companies involved. The prosecutors alleged that Adani and his executives induced investors to buy bonds and financial institutions to lend money under terms that did not account for the true risk associated with the transactions.

Electronic communication records, including phone messages and documents sent via messaging apps and spreadsheets, were also used by the defendants to document their corrupt efforts. This includes a defendant's use of a cell phone to log specific details of bribes promised to Indian government officials.

The case against Adani has raised concerns about the influence of large corporations on government policies in India. As one of the richest people in India, Gautam Adani has been under scrutiny before for his business operations. This latest development could lead to severe consequences if found guilty by the courts.