India's Prime Minister Narendra Modi has been accused of plotting a $250 million bribe against Gautam Adani
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Gautam Adani, the Indian billionaire and owner of the Adani Group, has been indicted in the US on charges of involvement in bribery and fraud schemes. An indictment has been filed in New York against Adani on the charge of planning to pay a bribe worth 250 million US dollars and concealing the matter while collecting the money in the US.
He and 7 people including his nephew Sagar Adani have been accused of agreeing to pay bribes to Indian government officials to get a contract for the construction of a solar power plant project. Adani's renewable energy company was expected to make more than $2 billion in profits from the project over a 20-year period.
Adani and his former chief executive officer of Adani Green Energy Company, Vinit Jain, have raised $3 billion investment from American firms and other investors while keeping the corruption secret. mentioned .
The prosecutors claim that the executives of Adani's company raised loans and bonds worth $3 billion from various firms, including the US, by submitting fake documents of their group's anti-bribery policy and investigation reports. ;
For 62 years, Adani has built a business empire from the construction and operation of ports and airports to the expansion of renewable energy. Adani Green Energy, which is running in the US involving various companies, has been under suspicion since 2023. The US started investigating Adani's company from 2022.
Suspicion was raised on the group after the publication of a report by Hindenburg Research, a highly reputed company based in New York, accusing the Adani group of fraud. Adani denied the claims made in the report.
After the publication of the report, Adani Group's shares and other transactions fell sharply. In response to the report published by Hindenburg, Adani Group published a 413-page rebuttal. Then there was a war of words between the two parties. Adani Group called Hindenburg "Mads of Manhattan" and called the company's report "a planned attack on India, its freedom, integrity and economic growth and ambition".
Some said that Adani represented the 'Modi model' of India's economic growth and that the Hindenburg report had 'set back the Adani Group's campaign to turn the nexus between the elite and partisan democratic forces into profit'. .
Adani is a close associate of Indian Prime Minister Narendra Modi. Opposition politicians in India have accused Adani of benefiting from its political ties with Modi for a long time. But he has been refuting those allegations .
Adani once said that he was kidnapped and survived by paying ransom. In addition, he claims that he managed to survive by hiding in the basement when the Taj was attacked on November 26, 2008. Adani congratulated the newly elected US President Donald Trump through social media last week. Similarly, he also promised to invest 10 billion dollars in America.
