Indian magnate Gautam Adani charged in US over massive bribery scheme ...Middle East

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Indian magnate Gautam Adani charged in US over massive bribery scheme
source : Daily Sun ( Middle East ) () 99
NEW YORK: Billionaire Indian industrialist Gautam Adani has been charged with paying hundreds of millions of dollars of bribes and hiding the payments from investors, US prosecutors said on Wednesday.With a business empire spanning coal, airports, cement and media, the chairman of Adani Group has been rocked in recent years by corporate fraud allegations and a stock crash.The close acolyte of Hindu nationalist Prime Minister Narendra Modi, a fellow Gujarat native, is alleged to have agreed to pay more than $250 million in bribes to Indian officials for lucrative solar energy supply contracts.The deals were projected to generate more than $2 billion in profits after tax, over roughly 20 years

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