Today's Ten: US Court indicts Adani for bribery & securities fraud, arrest warrant issued
By Pragadish Kirubakaran in Media News on Friday, 22nd November 2024 at 4:36pmIndian billionaire Gautam Adani finds himself in the eye of a global storm following a five-count criminal indictment by the US Department of Justice (DOJ).
The charges, which include bribery and securities fraud, allege that the Adani Group orchestrated a $265 million bribery plot to secure contracts in India and abroad, misleading investors in the process. According to Sampath G for The Hindu and Economic Times, the scandal has sent shockwaves through global markets, with Adani Group stocks plunging up to 20 per cent overnight and countries like Kenya cancelling proposed deals with the conglomerate.
At the core of the United States Securities and Exchange Commission's (SEC) case is the claim that the Adani Group paid bribes to government officials in India, particularly those link...
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