NEW YORK,: Indian billionaire Gautam Adani has been charged with fraud in the US, accusing him of plotting a $250 million bribery scheme and concealing it to launder money in the US.
The criminal charges filed in New York are the latest blow to Gautam Adani, 62, one of India’s richest men, whose business empire spans everything from ports and airports to renewable energy.
Prosecutors have charged that the business tycoon and other senior executives agreed to make payments to Indian officials to secure contracts for his renewable energy company, which is expected to generate more than $2 billion in profits over 20 years.
The group has been operating in the US since 2023, when a high-profile company published a report accusing it of fraud.
As alleged, the defendants devised an elaborate scheme to bribe Indian government officials to secure billions of dollars in contracts and lied about the bribery scheme as they sought to raise capital from US and international investors, US Attorney Brian Pace said in a statement announcing the charges.
Officials said Gautam Adani met with government officials in person on several occasions to advance the bribery scheme.
Last week, Gautam Adani congratulated Trump on his election victory on social media and promised to invest $10 billion in the US.
