Gautam Adani, chair of the Adani Group, has been indicted in the US over allegations of a $250 million bribery plot involving Indian government officials to secure solar power contracts. The charges include securities fraud and wire fraud conspiracy.

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• Gautam Adani and seven others charged in a $250 million bribery case.
• Allegedly paid bribes to secure $2 billion in profits over 20 years.
• Accusations include fraudulently raising over $3 billion in loans and bonds.
• Code names like “Numero uno” used to refer to Adani in the conspiracy.
• Indicted by the US Department of Justice and SEC for securities violations.
• Arrest warrants issued for Gautam Adani and nephew Sagar Adani.
• Other defendants include former executives of Adani Green Energy and Azure Power.
• Charges follow a $150 billion Adani Group stock collapse after Hindenburg’s report in 2023.
• Adani Group denies wrongdoing; no immediate response from Indian government.
• Adani recently announced $10 billion investment plans in US energy projects.