Federal prosecutors in New York charged the Indian mogul Gautam Adani, one of the world’s richest people, with multiple counts of fraud, accusing him and associates of bribing Indian officials and later lying to investors about the scheme.
The charges stem from accusations that the defendants paid more than $250 million in bribes to Indian government officials to obtain lucrative solar energy contracts with the government for a business called Adani Green Energy.
Mr. Adani personally met with officials to discuss the scheme in person, prosecutors said.
Adani Green Energy then tried to raise money from U.S. and international investors on the basis of false and misleading statements, the U.S. attorney’s office said.
Mr. Adani and his associates “lied about the bribery scheme as they sought to raise capital from U.S. and international investors.”
Persons:
Gautam Adani, Adani, “, ”
Organizations:
U.S, Attorney’s, Eastern, of, Energy
Locations:
New York, of New York, U.S