Fri Nov 22 11:08:06 UTC 2024: ## Adani Group Faces US Arrest Warrants in $265 Million Bribery Case
**New York, USA** – Gautam Adani, chairman of the Adani Group, and six others, including his nephew Sagar Adani, are facing arrest warrants in the US following accusations of a massive bribery scheme. A federal court in New York alleges that the Adani Group paid $265 million (approximately ₹2,238 crore) in bribes to officials in various Indian states to secure solar power projects.
The alleged scheme involved influencing contract tenders in Andhra Pradesh, Odisha, Tamil Nadu, Jammu & Kashmir, and Chhattisgarh. The FBI alleges that the Adani Group planned to secure at least $2 billion in profits over the next 20 years through this illicit activity. Further accusations include misleading investors and banks to secure loans and bonds worth billions of dollars.
The US Department of Justice filed two key charges against Adani and his associates: obtaining $2 billion in loans through misrepresentation and offering $1 billion worth of bonds to global investors based on false assurances. The Securities and Exchange Commission (SEC) also issued notices to Adani, Sagar Adani, and Delhi-based company Azura Power for violating federal securities laws. The court noted that the accused allegedly conspired to obstruct the FBI and SEC investigations.
The White House issued a statement expressing confidence that both the US and India can resolve this crisis, emphasizing the strong bilateral relationship. Press Secretary Karine Jean-Pierre noted that the SEC and Department of Justice are best positioned to respond to these allegations. The developments have sent shockwaves through both political and business circles.
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