YEARS
US prosecutors claimed that this fact was hidden from US banks and investors from whom Adani Group had raised billions of rupees for the solar power project. Adani Group expected to potentially make profits of more than $2 billion over 20 years. The bribes were allegedly paid between 2020 and 2024. Adani Group has rejected the allegations as baseless and said it will deal with the matter legally.
An arrest warrant was issued against Gautam Adani in a New York court after the billionaire industrialist was convicted on bribery and fraud charges. Judge Robert M. Levy had ordered it to be unsealed on October 31, 2024. The indictment and arrest warrant were unsealed to make the documents available to foreign law enforcement agencies. According to US law, arrest warrants are issued by courts unless there is a strong expectation that the accused will voluntarily appear in court. The US Justice Department has accused Adani, his nephew and six others of bribing Indian government officials to secure solar power contracts with state power distribution companies.
US prosecutors claimed that this fact was hidden from US banks and investors from whom Adani Group had raised billions of rupees for the solar power project. Adani Group expected to potentially make profits of more than $2 billion over 20 years. The bribes were allegedly paid between 2020 and 2024. Adani Group has rejected the allegations as baseless and said it will deal with the matter legally.
After the US filed civil and criminal charges against billionaire Gautam Adani and seven others in a multimillion-dollar bribery case, a prominent lawyer here has said the case could escalate significantly and lead to arrest warrants and even arrests. That extradition efforts may also be made. The US Justice Department has charged Adani, India’s second-richest man, and his nephew Sagar Adani, along with seven others, with bribing officials in Andhra Pradesh and Odisha to buy expensive solar power.
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