US Legal Storm: Gautam Adani's Multi-Million Dollar Bribery Charges

Billionaire Gautam Adani and seven others face US civil and criminal charges over a multi-million-dollar bribery scheme. Allegations involve bribery to secure solar power business in India, leading to significant profits. US prosecutors aim for potential arrests and extradition, yet Adani Group denies the charges as baseless.

Billionaire Gautam Adani, alongside seven others, has been embroiled in a serious legal confrontation as the U.S. files civil and criminal charges over a multi-million-dollar bribery scheme. The charges claim Adani orchestrated bribes to secure lucrative solar power contracts in India, yielding profits exceeding USD 2 billion.

The Adani Group refutes these allegations, asserting full legal compliance. However, U.S. Attorney Breon Peace plans to pursue arrest warrants and possible extraditions, citing the potential to trigger actions through international treaties, as explained by attorney Ravi Batra, comparing it to past extradition cases.

The charges involve prominent figures, including Gautam Adani's nephew and Adani Green Energy's former CEO, with allegations of securities and wire fraud and breaching anti-fraud provisions. Despite Adani's denial, the legal proceedings emphasize the broad reach of U.S. law in protecting its financial markets.

(With inputs from agencies.)