US charges tycoon Gautam Adani with defrauding investors, hiding plan to bribe Indian officials

The Gazette

Summary

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Just a week after Transport Cabinet Secretary Davis Chirchir defended the Adani Group before Parliament and stated it was not involved in any corruption activities, Gautam Adani was on Wednesday, November 20, charged in the United States in a $250 million (about Ksh32 billion in the current exchange rates) bribery scheme.
Kenyans.co.ke
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The Gujarat native is alleged to have agreed to pay more than $250 million in bribes to Indian officials for lucrative solar energy supply contracts.
Gulf News
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Gautam Adani, India's second richest man and the Chairman of the Adani Group, has been indicted in the US over his role in an alleged multibillion-dollar bribery and fraud scheme.
India Times
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The indictment also charges Ranjit Gupta and Rupesh Agarwal, former executives of a renewable-energy company with securities that had traded on the New York Stock Exchange (the U.S. Issuer), and Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra, former employees of a Canadian institutional investor, with conspiracy to violate the Foreign Corrupt Practices Act in connection with the alleged bribery scheme.
Free Press Journal

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