STORY: U.S. authorities have indicted Indian billionaire Gautam Adani over an alleged multibillion-dollar bribery and fraud scheme.
The indictment was filed Wednesday in New York.
It accuses Adani and his nephew Sagar of paying $265 million in bribes to Indian government officials to obtain solar energy supply contracts.
Prosecutors also allege the Adanis and another executive at Adani Green Energy, former CEO Vneet Jaain, concealed corruption from lenders and investors to secure $3 billion in loans and bonds.
Five other people were hit with related charges.
Arrest warrants have been issued for Gautam and Sagar Adani.
There was no comment from the Adani Group or India’s embassy in Washington.
According to Forbes magazine, Adani is worth $69.8 billion.
That makes him the world’s 22nd richest person, and India’s second-richest.
Last week, Adani said in a social media post that he planned to invest $10 billion in U.S. energy security and infrastructure projects, and create a potential 15,000 jobs.
