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Billionaire Gautam Adani charged in New York with massive fraud, bribery scheme

  • Gautam Adani has been charged by U.S. Federal prosecutors with defrauding investors and orchestrating a bribery scheme in India, as stated by authorities on Wednesday.
  • Deputy Assistant Attorney General Lisa Miller mentioned that the indictment alleges Adani aimed to "obtain and finance massive state energy supply contracts through corruption and fraud at the expense of U.S. Investors."
  • Following the charges, shares in Adani's listed firms dropped by 10% to 20%, indicating market reaction to the allegations.
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