Gautam Adani faces charges in a U.S. court for foreign bribery, securities fraud, wire fraud conspiracy, and related offenses.
Nov 22, 2024
Allegations of Bribery
Prosecutors claim Adani paid over $250 million in bribes to Indian officials to secure $2 billion in solar contracts over two decades.
Role of the SEC
The U.S. Securities and Exchange Commission (SEC) accuses Adani of misleading American investors with falsified documents during fundraising.
Scope of U.S. Laws
Foreign bribery laws in the U.S. apply to entities operating in the country, enabling charges against Adani despite the alleged acts occurring in India.
Extradition Process
For Adani’s arrest in the U.S., prosecutors would need to request extradition from India, involving Indian courts reviewing legal and political considerations.
Delayed Court Proceedings
Adani has not appeared in a U.S. court. Legal challenges, evidence disputes, and potential separate trials for co-defendants are expected to prolong the case.
Potential Penalties
If convicted, Adani faces up to 20 years for fraud and conspiracy, 5 years for bribery, and substantial monetary penalties.
Possible Plea Negotiations
Adani’s lawyers could negotiate a plea deal, though U.S. prosecutors are not obligated to agree to any terms.
Corporate Denials
The Adani Group denies all allegations, branding them "baseless" and asserting compliance with U.S. and international laws.
Corporate Denials
The Adani Group denies all allegations, branding them "baseless" and asserting compliance with U.S. and international laws.