Gautam Adani, chairman of India’s Adani Group, has been indicted in the U.S. over allegations of paying over $250 million in bribes to Indian government officials between 2020 and 2024 to secure solar energy contracts worth $2 billion, according to U.S. prosecutors.
The unnamed renewable energy company also allegedly raised $3 billion in loans and bonds using false statements. Adani and executives Sagar Adani and Vneet Jaain are accused of bribery, fraud, and obstructing justice.
Critics often link Adani to Indian PM Narendra Modi, though both deny claims of favoritism. None of the accused, including Adani, are in custody. The Adani Group has not yet commented.
Adani, a billionaire who rose from modest beginnings in Gujarat, built his fortune in coal and later diversified into various industries, including renewable energy.
