### Gautam Adani Indicted in New York Over Alleged Multi-Billion-Dollar Bribery Scheme

Gautam Adani, one of the planet's wealthiest individuals, has been indicted in New York for his involvement in an alleged scheme that includes paying $250 million in bribes and hiding these activities from investors in the United States. U.S. prosecutors have accused Adani, the chair of the Indian conglomerate Adani Group, alongside two other executives from a renewable energy company, with charges of securities fraud and conspiracy to commit securities and wire fraud.

The U.S. Attorney's Office in Brooklyn claims that between 2020 and 2024, the accused plotted to bribe Indian government officials. The scheme aimed to secure solar energy supply contracts projected to generate $2 billion in profits over the next two decades. These bribes were allegedly made to gain an unfair competitive edge in the highly lucrative solar energy sector.

Additionally, the Securities and Exchange Commission (SEC), the primary regulatory body for U.S. markets, has filed charges relating to what it describes as a "massive bribery scheme." Adani Group has yet to issue an official response to these allegations. This is not the first time the company has faced scrutiny; it previously came under fire following a report by Hindenburg Research, a short-seller investment firm that accused the conglomerate of stock manipulation, accounting fraud, and money laundering. Adani Group had refuted these claims, labeling them as "malicious" misinformation.

Breon Peace, U.S. Attorney for the Eastern District of New York, stated that the defendants "orchestrated an elaborate scheme" to bribe officials in India and deceive investors while seeking to raise funds. Lisa Miller, deputy assistant attorney general, emphasized the severity of the charges, which include efforts to pay over $250 million in bribes to secure government contracts and raise billions unlawfully, thus defrauding U.S. investors and financial institutions.

Bloomberg lists Gautam Adani as the 18th richest person globally, with an estimated personal fortune of $85 billion. Prosecutors allege that Adani personally met with an Indian government official on multiple occasions to further the bribery scheme. Alongside him, Sagar R Adani is accused of tracking the details of the bribery transactions through his phone, overseeing the specifics of the offered and promised bribes. The ongoing investigation places a significant spotlight on the powerful business magnate and his corporate activities.