Chair of India’s Adani Group indicted in United States

NEW YORK (Reuters) -The chair of Indian conglomerate Adani Group, Gautam Adani, has been indicted in the U.S. over an alleged scheme to pay hundreds of millions of dollars in bribes and conceal the scheme from American investors, prosecutors said on Wednesday.

The U.S. Attorney’s Office in Brooklyn said Adani, along with two other executives of an Indian renewable energy company, agreed between 2020 and 2024 to pay more than $250 million in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2 billion in profits.

The renewable energy company, which prosecutors did not name, also raised more than $3 billion in loans and bonds during this period on the basis of false and misleading statements, prosecutors said.

Adani Group did not immediately respond to a request for comment.

(Reporting by Luc Cohen and Jonathan Stempel in New York; Editing by Lisa Shumaker and Jonathan Oatis)