Gautam Adani, founder chairman of the ports-to-energy conglomerate, Sagar Adani, and another key executive, Vneet Jaain, have been charged by the US Department of Justice. However, in a stock exchange filing, Adani Green Energy Ltd, which is at the centre of the bribery allegations, said reports claiming that the three have been charged with FCPA violations “are incorrect”.
Tag: Sagar Adani
US names Gautam Adani, others in USD 250 million bribery scheme
According to the indictment, between 2020 and 2024, the Adani and the others agreed to pay more than USD 250 million in bribes to Indian government officials to obtain lucrative solar energy supply contracts with the Indian government, which were projected to generate more than USD 2 billion in profits after tax over an approximately 20-year period.
