Gautam Adani, chair of India's Adani Group and one of the world's richest people, was indicted with others on bribery and fraud charges unsealed Wednesday in federal court in New York.
Andani and other defendants are accused of bribing Indian government officials more than $250 million in bribes to obtain solar energy supply contracts worth more than $2 billion in profits.
The five-count indictment in U.S. District Court in Brooklyn also charged Ranjit Gupta and Rupash Agarwal, former executives in the renewable-energy company Azure Power, and three former employees of the Canadian institutional investor Caisse de Depot et Placement du Quebec: Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra.
Those defendants are accused of conspiracy to violate the Foreign Corrupt Practices Act in connection with the bribery scheme by Adani and the others at the energy company.
Cabanes, Saurabh Agarwal, Malhotra and Rupash Agarwal are also accused of conspiring to obstruct criminal and Securities and Exchange Commission investigations into the bribery scheme.
Persons:
Gautam Adani, India's, Sagar Adani, Ranjit Gupta, Rupash Agarwal, Cyril Cabanes, Saurabh Agarwal, Deepak Malhotra, Malhotra
Organizations:
Green Energy, Power, Quebec, Securities, Exchange
Locations:
New York, U.S, Brooklyn