Adani has been charged by U.S. federal prosecutors with defrauding investors for a solar energy project in India.
Billionaire Gautam Adani has been charged by U.S. federal prosecutors with defrauding investors and orchestrating a covert scheme to bribe officials in India, authorities said Wednesday.Who Is Gautam Adani?
Adani, ranked among the world’s wealthiest individuals, built his fortune in the coal business in the 1990s in India and has since been a power player in the world’s most populous nation.
According to Forbes, Adani is worth $69.8 billion, which makes him the world’s 22nd richest person.
According to an indictment unsealed on Wednesday, the 62-year-old billionaire and head of the Adani Group conglomerate is charged with securities fraud and conspiring to commit securities and wire fraud.
He is accused of defrauding investors to secure lucrative contracts for a solar energy project in India.
