Indian billionaire Gautam Adani and his nephew Sagar Adani took part in a multimillion-dollar bribery scheme in order to secure contracts for Adani Green, the company’s renewable energy firm, according to the complaint. The SEC further alleges that the pair falsely touted Adani’s compliance with anti-bribery and anti-corruption policies in connection with a US$750-million bond offering. (The Logic)
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Indian billionaire Gautam Adani and his nephew Sagar Adani took part in a multimillion-dollar bribery scheme in order to secure contracts for Adani Green, the company’s renewable energy firm, according to the complaint. The SEC further alleges that the pair falsely touted Adani’s compliance with anti-bribery and anti-corruption policies in connection with a US$750-million bond offering. (The Logic)
Talking point: The complaint is related to earlier criminal charges filed against Gautam and Sagar Adani, along with three former executives from Quebec public pension fund manager Caisse de dépôt et placement du Québec, for allegedly participating in a US$250-million bribery scheme to secure solar power contracts in India. The Adani Group called the charges “baseless.”
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