CHARGES of manipulation by Gautam Adani refuse to die down. After the two Hindenburg reports of manipulations, now the various agencies of the US government have levelled charges of corruption, lying to investors, obstruction of justice by deletion of material evidence, etc. against his companies.
These agencies have collected evidence for each of these charges over a year and a half and presented it before a grand jury which then issued the indictment. The district court for the Eastern District of New York’s indictment, running over 54 pages, mentions electronic evidence of the meetings amongst the various actors, of bribe payments, of actions to initiate enquiry to divert attention, manipulation of data presented to investors and deletion of incriminating data. It has sent the case for prosecution in a court.
On November 20, 2024, the Securities and Exchange Commission also charged Gautam Adani and others “for conduct arising out of a massive bribery scheme”. The bribes were offered to “Indian government officials to secure their commitment to purchase energy at above-market rates”.
