Indian billionaire Gautam Adani, whose business empire also includes a growing footprint in African infrastructure, has settled a U.S. civil case linked to bribery and fraud allegations involving solar energy contracts in India.
The settlement involves Gautam Adani and his nephew Sagar Adani, alongside executives at Azure Power Global, who were accused by U.S. regulators of misleading investors in connection with government-awarded solar contracts.
A New York federal court had previously indicted Gautam Adani and seven others in November 2024 on criminal charges tied to an alleged bribery, fraud, and obstruction scheme.
Prosecutors alleged that the defendants paid more than $250 million in bribes to Indian government officials, while raising billions of dollars from investors and banks under false pretences.
Adani’s African infrastructure push under scrutiny backdrop
