Gautam Adani, an Indian businessman, has been indicted in the U.S. for allegedly concealing a bribery scheme related to a multi-billion dollar solar energy project.
The indictment claims Adani and others misled Wall Street investors while coordinating a scheme where about $265 million was earmarked in bribes to secure government contracts.
U.S. Attorney Breon Peace stated that the defendants orchestrated an elaborate scheme to corruptly obtain energy supply contracts, harming U.S. investors in the process.
In a concurrent civil action, the Securities and Exchange Commission accused Adani and his co-defendants of breaching U.S. securities laws and is pursuing penalties.
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