Indian billionaire Gautam Adani and several executives have been indicted in New York by US prosecutors for their alleged involvement in a multi-billion-dollar fraud scheme related to the development of a major solar power plant. The Department of Justice stated that Adani and seven other executives, including his nephew Sagar Adani, are accused of offering over $250 million in bribes to Indian government officials to secure solar energy contracts.
The impact of these allegations has reverberated across Adani's conglomerate, with shares in the group's listed firms experiencing significant declines. The allegations have also sparked political repercussions in India, with calls for a parliamentary investigation into Adani's companies.
