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