Indian businessman Gautam Adani has been indicted in the U.S. for securities fraud, accused of duping investors by concealing corruption in a solar energy project.
The indictment claims Adani Green Energy Ltd. misled investors while allegedly engaging in a bribery scheme, paying $265 million to secure state contracts.
According to U.S. officials, Adani and his co-defendants inflated the project's credibility to attract billions from Wall Street, while planning corrupt payments to Indian officials.
The Securities and Exchange Commission has also filed against Adani, seeking penalties for violations of U.S. securities laws, amidst ongoing investigations into the Adani Group.
#gautam-adani #securities-fraud #bribery-scheme #solar-energy #us-securities-and-exchange-commission
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