Adani Group Denies Bribery Charges in U.S. Indictment

The conglomerate refutes allegations of corruption and securities fraud, while facing market losses and international scrutiny.

U.S. prosecutors have accused the Adani Group of a $250 million bribery scheme to secure Indian government contracts, but the group denies all allegations.
The indictment does not name Gautam Adani, Sagar Adani, or Vneet Jaain in the most serious charges related to bribery and obstruction of justice under the Foreign Corrupt Practices Act (FCPA).
Adani Group executives are charged with securities fraud conspiracy, wire fraud conspiracy, and securities fraud, which the company has vowed to contest through legal channels.
The allegations have triggered a $55 billion loss in market capitalization for Adani Group companies and led to project cancellations in Kenya and halted investments from France’s TotalEnergies.
Former Attorney General Mukul Rohatgi, speaking independently, emphasized the lack of specific evidence in the indictment and clarified that the Adanis are not named in the most critical counts.