Gautam Adani, chairperson of the Adani Group, is facing criminal charges in the US for allegedly paying $250 million in bribes to Indian officials to secure contracts for India’s largest solar power project. Here’s what lies ahead for the Indian billionaire:
What are the charges?
Gautam Adani is accused of foreign bribery, securities fraud, wire fraud conspiracy, and related charges. Prosecutors allege he paid over $250 million in bribes to secure solar contracts worth $2 billion over two decades. US laws allow charges for foreign bribery when companies operate in the US.
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Can Gautam Adani be arrested in US?
If Gautam Adani is in India, US prosecutors would need to request his extradition. India’s courts would evaluate whether the charges apply under Indian law and assess any political or human rights concerns. Gautam Adani could contest extradition, prolonging the process.
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What happens next?
According to a news agency Reuters, Gautam Adani has not entered a plea, as he has not appeared in a US court. If extradited, or he he surrenders, his lawyers can challenge the charges. They may also negotiate a plea deal, though prosecutors are not obligated to agree.
A trial is unlikely to begin soon. Legal proceedings, including evidence challenges and potential separate trials for Adani’s seven co-defendants, could delay the process, Reuters reported.
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What are possible penalties?
If convicted, Adani faces up to five years for bribery and up to 20 years for fraud and conspiracy charges. He could also face significant monetary penalties. Any sentence would ultimately depend on the presiding judge, the Reuters report said.
Adani’s legal team could appeal any conviction, making this a potentially lengthy legal battle.
What is Adani’s response to charges?
The Adani Group has denied the charges, calling them “baseless” and asserting compliance with all laws.
(With inputs from Reuters)