“The US Securities and Exchange Commission has issued an arrest warrant for India’s second-richest man, Gautam Adani, and his nephew Sagar Adani, in connection with bribery of government officials.”, — write: www.epravda.com.ua
The US Securities and Exchange Commission has issued an arrest warrant for India’s second-richest man, Gautam Adani, and his nephew Sagar Adani, in connection with bribery of government officials.
About this informs Reuters.
The US Securities and Exchange Commission (SEC) is suing Adani Group Chairman Gautam Adani and his nephew Sagar Adani, alleging they paid hundreds of millions of dollars in bribes to help Adani while “falsely representing the company’s anti-corruption practices and laws in connection with the placement of bonds in the amount of 750 million US dollars”.
According to the lawsuit, filed in the federal court for the Eastern District of New York, the response is due within 21 days. The SEC’s lawsuit seeks unspecified monetary penalties and restrictions on the Adani family’s ability to hold positions in publicly traded companies.
The group dismissed the criminal charges as “baseless”. The group’s chief financial officer said the indictment related to one Adani Green Energy contract, which represents about 10% of its business, and that no other firms in the conglomerate had been accused of wrongdoing.
Federal prosecutors have issued arrest warrants for Gautam and Sagar Adani, alleging they were involved in a $265 million scheme to bribe Indian officials to secure power supply deals.
Authorities said Adani and seven other defendants, including his nephew Sagar, agreed to bribe Indian government officials to win contracts expected to generate $2 billion in profits over 20 years and to develop India’s largest solar power project.
We will remind:
Some global banks are considered the possibility of a temporary suspension of new loans to the Adani Group, owned by billionaire Gautam Adani, following the indictment in the US.