The US has accused Indian billionaire Gautam Adani of committing fraud by planning a $250 million (£198 million) bribery plot and hiding it in order to raise money in the US.
The criminal allegations, which were brought in New York on Wednesday, are the most recent setback for Mr. Adani, 62, who is one of the wealthiest men in Asia and whose company empire encompasses renewable energy, ports, and airports.
Prosecutors claimed in the indictment that the businessman and other top executives had consented to pay Indian officials in order to secure contracts for his renewable energy company, which is anticipated to generate over $2 billion in earnings over the course of 20 years.
The Adani Group has referred to the accusations as “baseless” and disputed them.
