Gautam Adani, an Indian billionaire and Chairman of the Adani Group conglomerate, is reportedly facing corruption charges in the United States.
He and seven others, including his nephew Sagar Adani, have been charged in a $265 million bribery case.
The case allegedly involves payments to Indian government officials to secure contracts for India's largest solar power project, which is expected to generate $2 billion over 20 years.
Prosecutors allege that Adani and others also raised $3 billion through loans and bonds while hiding these corrupt activities from investors.
In legal documents, Gautam Adani is reportedly referred to as "Numero Uno" and "the big man," and details of the corruption were traced to private communications.
This is not Adani's first controversy, as in 2023, a US research firm accused his group of improper financial practices, which led to a $150 billion drop in the value of his company.
Despite this, Adani continues to expand his empire, recently raising $600 million through ‘green’ bonds.
Arrest warrants have been issued for Adani and others.
