Gautam Adani Charged in U.S. Over $265 Million Bribery Scheme

NEW DELHI – Indian billionaire Gautam Adani has been indicted by U.S. prosecutors for his alleged involvement in a $265 million bribery scheme, deepening the crisis facing his conglomerate for the second time in two years. Adani, one of the world’s richest individuals, faces multiple fraud charges alongside seven other defendants, causing a sharp decline in shares and bonds of Adani Group companies on Thursday.

The allegations center around Adani Green Energy (ADNA.NS), the company at the heart of the charges, which also announced the cancellation of a $600 million bond sale. This legal setback further compounds the challenges facing Adani Group as it grapples with financial and reputational turmoil.