He is accused of fraud in the US Indian billionaire Gautam Adani. Specifically, he is accused of orchestrating 250 million bribery scheme dollars which he hid to raise money in the US.

The criminal charges, filed Wednesday in New York, are the latest blow to 62-year-old Adani, one of India’s richest men, whose business empire spans from ports and airports to renewable energy.

In the indictment, prosecutors alleged that the tycoon and other senior executives they had agreed to pay off Indian officials to win contracts for the renewable energy company that is expected to generate more than $2 billion in profits. dollars in 20 years.

The conglomerate has been operating under a cloud in the US since 2023, when a high-profile company published a report accusing it of fraud. The allegations triggered a major sell-off in the market, although Adani denied the allegations.

Reports of this bribery investigation have been circulating for months. Prosecutors said the US began investigating the company in 2022 and found the investigation obstructed.

They allege the executives raised $3 billion in loans and bonds, including from U.S. companies, by making false and misleading statements related to the company’s anti-bribery practices and policies, as well as reports on the bribery investigation.

“As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and … lied about the bribery scheme as they sought to raise capital from US and international investors,” the US attorney said. Breon Peace.

“My office is committed to rooting out corruption in the international marketplace and protecting investors from those who seek to enrich themselves at the expense of the integrity of our financial markets,” he added.

On several occasions Adani personally met government officials to further their bribery scheme, officials said.

Adani is a close ally of Indian Prime Minister Narendra Modi. He has long faced allegations from opposition politicians that he has benefited from his political connections, which he denies.

Last week on social media, Adani congratulated Trump on his election victory and pledged to invest $10 billion in the US.