NEW YORK: A five-count criminal indictment has been unsealed in the United States District Court for the Eastern District of New York, charging prominent Indian executives including Chairman of the Adani Group Gautam Adani by linking them to an alleged bribery and fraud scheme, Reuters reported citing US prosecutors.
According to the U.S. Attorney’s Office, Eastern District of New York, “A five-count criminal indictment was unsealed in federal court charging Gautam Adani, Sagar R. Adani, and Vneet S. Jaain, with conspiracies to commit securities and wire fraud and substantive securities fraud for their roles in a multi-billion-dollar scheme to obtain funds from U.S. investors and global financial institutions on the basis of false and misleading statements.”
The indictment also charges Ranjit Gupta and Rupesh Agarwal, former executives of a renewable-energy company with securities that had traded on the New York Stock Exchange (the U.S. Issuer), and Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra, former employees of a Canadian institutional investor, with conspiracy to violate the Foreign Corrupt Practices Act in connection with the alleged bribery scheme.
