Indian billionaire Gautam Adani and his other key partners have been charged in New York, the United States for being involved in the fraud of billions of dollars by the law enforcement agency in the United States.
American media have reported that Adani and its seven business partners, including his nephew Sagar Adani, promised to pay a bribe of more than 250 billion US dollars to be given contracts to buy Solar panels.
Presumably the bribery was aimed at deceiving banks and investors to collect the funds to avoid the law, this is according to the statement of Deputy Attorney General Lisa Miller released yesterday.
Adani is ranked as the second richest person in Asia with more than 85 billion dollars owning the company Adani Group.
The bid to distribute solar panels was estimated to bring in more than 2 billion dollars over a period of 20 years.
Adani allegedly met with a government official in India to plan the conspiracy that occurred between 2020 and 2024.
Adani has signed an investment contract in the country’s electricity distribution company, KETRACO, for a period of 30 years worth 96 billion shillings, the implementation of which has been put on hold by the court following a case filed against the plan.
