Adani group head Gautam Adani (Image Credit: Adani's X account) NEW DELHI: Gautam Adani and his conglomerate, the Adani Group , are at the center of a major legal and financial storm following an indictment by US prosecutors. The charges allege that Adani, his nephew Sagar Adani, and other associates orchestrated a $265 million bribery scheme to secure lucrative solar energy contracts in India. Between 2020 and 2024, the accused reportedly bribed Indian officials to gain business advantages while misleading US investors and financial institutions about their anti-corruption practices.
The charges against Adani and others have been filed in the US District Court for the Eastern District of New York, a prominent federal court known for handling high-profile cases involving corporate fraud, securities violations, and international corruption. This court, based in Brooklyn, has jurisdiction over cases that involve violations of US federal law, especially those with connections to international financial systems and foreign bribery under the Foreign Corrupt Practices Act (FCPA). The prosecution is led by the US Attorney for the Eastern District of New York, Breon Peace, who oversees cases related to white-collar crimes, organized fraud, and cross-border offenses.
Why US authorities took action The US indictment stems from the involvement of American investors and financial markets in the alleged fraud. Under the Foreign Corrupt Practices Act (FCPA), US law prohibits companies from.
