Indian businessman Adani Group chief Gautam Adani and other senior executives have been charged in a US court for their alleged role in a billion-dollar scheme to obtain funds from US investors and global financial institutions based on ‘false and misleading’ statements. Have been installed.
According to the United States Attorney’s Office, Eastern District of New York, criminal charges of bribery and fraud have been filed in a federal court in Brooklyn.
Gautam Adani’s nephew Sagar Adani is also named among the seven people who have been accused of bribery.
The indictment alleges that, between approximately 2020 and 2024, the defendants agreed to pay bribes of more than $250 million to Indian government officials to obtain lucrative solar energy supply contracts with the Indian government, spanning approximately 20 years. Profit after tax in the period was estimated to be more than $2 billion.
Who is Sagar Adani?
Sagar Adani is the son of Rajesh Adani, brother of Gautam Adani. Rajesh Adani has also been a part of Adani Group since its inception. Sagar Adani is the Executive Director of Adani Green Energy.
His father is a director. He joined the company after graduating in economics from Brown University, America. Sagar Adani is credited with the expansion of Adani Green Energy’s solar and wind energy portfolio.
According to the company’s website, he oversees the strategy, finance and structural development of the organization. According to the Bloomberg report, Sagar Adani is also among the four names being discussed as Gautam Adani’s successor.
Apart from them, the names of Gautam Adani’s sons Karan and Jeet and cousin Pranab Adani were included in this list by Bloomberg.
Following the allegations against the Adani Group, the Kenyan government has canceled the proposed Nairobi Airport Expansion Project and a power project linked to the Adani Group.
This information was given in several media reports on Thursday. According to reports, Kenyan President William Ruto ordered relevant government departments to cancel the deals. Ruto said in his state of the nation address that the decision was “based on new information provided by our investigating agencies and partner countries.”
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