US Securities and Exchange Commission summons Gautam Adani, nephew on bribery allegations
Federal prosecutors issued arrest warrants for Gautam and Sagar Adani, alleging they participated in a $265 million scheme to bribe Indian officials to secure power-supply deals.
Adani Energy Solutions: We’ve not ‘entered into any contract in connection with any airport in Kenya’
US authorities on Wednesday indicted Adani Group founder Gautam Adani and seven others, alleging they paid $265 million in bribes to Indian officials. The group denied the allegations.
Fast fashion as not Africa’s environmental hazard, but also a cultural and economic disabler
In a sprawling secondhand clothing market in Ghana’s capital, early morning shoppers jostle as they search through piles of garments, eager to pluck a bargain or a designer find from the stalls selling used and low-quality apparel imported from the West. At the other end of the street, an upcycled...
How Gautam Adani’s boast about his company being on track ‘to become world’s largest renewables player by 2030’ caught FBI attention
The alleged hundreds of millions of dollars in bribes promised to local Indian officials caught the attention of the US Justice Department and Securities and Exchange Commission as Adani’s companies were raising funds from US-based investors in several transactions starting in 2021.
Corrupt Solar Project: Adanis face decades in prison and hefty monetary penalties if convicted
There is a growing spotlight on Sagar Adani, a millennial scion of the company who kept track of hundreds of millions of dollars of alleged bribes to Indian officials, in notes the prosecutors described as “bribe notes”.
Adani Group stocks, bonds plunge for a second day after founder’s US indictment
Adani Group said the accusations levelled by US federal prosecutors as well as by the US Securities and Exchange Commission in a parallel civil case are “baseless and denied” and that it will seek “all possible legal recourse”.
Bribe notes’ with per megawatt rates: At just age 30, Sagar Adani pulled the strings from Prime Minister’s office to top officials in states
The crisis is the second in two years to hit the ports-to-power conglomerate founded by Gautam Adani, 62, who Forbes magazine says is the world’s 25th richest man.
Saudi football diplomacy: ‘In owning a club, there’s fast-track public relations that operates in sports’
The wish is for Saudi to become a tourist destination, hosting elite events such as boxing, golf and esports. It all forms part of Saudi Vision 2030, a government programme designed by MBS to diversify the economy before natural resources – and the world’s dependency on them – expire. A thriving entertainment sector to suit the needs of its young population is also high on the agenda.
Premier League owners: In buying English football clubs Abu Dhabi and its brands have become part of UK image
Manchester City’s was a takeover that pushed us towards the very modern term of “sportswashing” but it has yielded more than just reputational improvements in a part of the world where Amnesty International says freedom of expression is unduly restricted.
Hindenburg Research: Our report released January 2023 identified Adani as the largest corporate con in history
It is unclear whether Gautam or Sagar Adani will appear in court, as they could try to get the indictment dismissed without appearing in the United States. Gautam Adani’s whereabouts are unclear, and none of the defendants are in custody, a spokesperson for US Attorney Breon Peace in Brooklyn said.
