Adani's Alleged Bribery Scandal: Unveiling the Fallout

Current News

FnF News Desk Nov 22, 2024

A Global Tycoon Under Scrutiny

[{"selector":"#anim-149e1a4f-912e-4101-b901-2a1396309a46","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-68f78c63-8286-4607-a4fb-19c3e47b341c","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-393f4365-9abe-44cc-b6b0-fd7ad7a54ed7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f2af40fa-f01f-4932-8336-6e6066490084","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Bribes to Push Solar Power

[{"selector":"#anim-df827587-7512-423c-a772-7ad06e399a18","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e74a6d9f-09ad-4804-9651-7839219c0cba","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5e48f635-8494-461c-8f12-c356f3b51c15","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a09a02fb-1603-4981-a933-962e4ad8754c","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

SEC’s Key Evidence

[{"selector":"#anim-919df555-d0e1-439e-a83e-1eea190382b7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8f5e9111-e976-40fa-bc7b-e00aadb08be4","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-990176dd-73c2-487f-9790-82988c2a18e7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d5e9290f-e23d-4c90-8d0a-b048f3972e62","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The Fallout

[{"selector":"#anim-25b54356-09a0-4013-9550-cf5df203f8f0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f797983e-551f-4030-9ec5-73e4971f664e","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5f60bead-af1e-4367-8bd6-ce942968b37b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-59f0b54b-694c-4d0b-9832-9c53301fb847","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Historical Context

[{"selector":"#anim-8b790ce7-5b1c-44ce-8fcd-73366aa1787a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4a0ee3b2-acff-409c-8639-5c7e2e4bf16d","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-105fa75a-ce8f-4074-b34f-fb70c72cb0e1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ea24e487-1902-42ef-93cf-e88c27e7c0f0","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Accusations of Securities Fraud

[{"selector":"#anim-93b078aa-6e27-4640-91b8-a98b9eb37feb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c31112b5-46d0-4982-b909-7ced3be82bdf","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d79ba147-9088-4e07-b5dc-da3a0e5e21c0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6dad5317-deb7-4cce-a666-45979d861e35","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Adani’s Defense

[{"selector":"#anim-95b81a7e-5e71-41a1-a733-af08db00600b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4241f2ca-8f63-47da-a245-c110ae86e5b7","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-10bc85f9-50b5-4181-82bf-7aa976b3b5ff","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e6eb36f5-106f-4c58-9453-108df3bc6d12","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

FBI Investigations Intensify (2023)

[{"selector":"#anim-70cb971e-ccdf-493a-a27f-6ec80a5b36d6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e43a1961-d109-4fbd-b731-8d191d43805f","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d5e31113-0df0-4be3-b901-5ecbf2715a9d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-10ee79e6-2c20-446c-8e38-ca7c2442a30b","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Economic Ripples

[{"selector":"#anim-a3e21773-244b-4454-8e18-5e65ceb5c4b2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-16e6b2b9-e8cc-4fe5-aee2-f5fbf1984bc1","keyframes":{"transform":["translate3d(-101.30208%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f947b9f9-faad-4f58-a283-25fbffeca8ca","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-50108db4-7356-4746-a650-653d4bf88f59","keyframes":{"transform":["translate3d(-101.24378%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Current News

Gautam Adani faces U.S. allegations of orchestrating a $265M bribery scheme to secure a solar energy contract.

A Global Tycoon Under Scrutiny

The founder of a ports-to-energy empire, Adani, at 62, faces one of his biggest legal battles yet.

Bribes to Push Solar Power

Allegations claim Adani paid officials to secure power deals while misleading investors during fundraising efforts.

SEC’s Key Evidence

WhatsApp chats and encrypted messages revealed discussions about "incentives" to facilitate approvals.

The Fallout

Adani Group’s companies lost ₹2.24 lakh crore in market value after the indictment became public.

Historical Context

This scandal mirrors the January 2023 Hindenburg crisis but with heightened stakes for the Indian billionaire.

Accusations of Securities Fraud

U.S. prosecutors cite criminal and civil allegations involving falsified documents and bribery claims.

Adani’s Defense

pledging legal recourse to defend its reputation globally.

FBI Investigations Intensify (2023)

Sagar Adani, Adani's nephew, had his electronic devices seized by FBI agents in 2023, revealing critical bribery and concealment evidence.

Economic Ripples

The scandal has left a dent in India’s renewable energy reputation, with cancelled projects and investor doubts.