US prosecutors target Indian energy mogul in massive solar contracts scandal
Federal charges hit Indian business leader over solar energy dealings and investor deception. US Justice Department alleges quarter-billion dollar bribery scheme involving government contracts
In a far-reaching legal move‚ US federal prosecutors brought charges against prominent Indian energy-sector figure Gautam Adani this wednesday. The high-profile businessman faces allegations tied to a complex bribery scheme
The case centers on questionable dealings with Indian govt officials: prosecutors say Adani and his associates promised $250-million in pay-offs to secure profitable solar-power agreements. Several co-conspirators (including Adanis nephew) took part in the scheme
The Justice Departments investigation uncovered more than just bribery: the group misled american investors about their companys anti-corruption policies. They gave false info to international money-lenders and didnt follow proper business practices; making their dealings look clean when they werent
The indictment represents a shake-up in global renewable energy markets — Adani holds significant influence in worldwide power-sector development
