Gautam Adani Denies U.S. Allegations of $250M and $265M Bribery Schemes

Nov 30, 2024, 04:15 PM

Indian billionaire Gautam Adani and his conglomerate, the Adani Group, have denied allegations of involvement in a bribery scheme following a U.S. federal indictment. The indictment accuses Adani and others of orchestrating a $250 million bribery scheme to secure power supply contracts. Adani Group CFO Jugeshinder Singh also rejected the allegations, stating that no executives, including Chairman Gautam Adani, were involved in the purported $265 million scheme. Adani has asserted that no one in his conglomerate faces charges under the U.S. Foreign Corrupt Practices Act or conspiracy to obstruct justice.