Mumbai: Adani Green Energy Limited has refuted media reports claiming that billionaire Gautam Adani, his nephew Sagar Adani, and senior Adani Group executive Vneet Jain are facing bribery charges in a recent US indictment. The company issued a statement on Wednesday clarifying that these claims are “incorrect.”
According to the statement, Gautam Adani, Sagar Adani, and Vneet Jain have not been charged with any violations related to the Foreign Corrupt Practices Act (FCPA) in the criminal indictment issued by the US Department of Justice (DOJ) or the civil complaint from the US Securities and Exchange Commission (SEC).
The statement further clarified that the three individuals are facing charges on three counts in the criminal indictment, which include: (i) alleged securities fraud conspiracy, (ii) alleged wire fraud conspiracy, and (iii) alleged securities fraud.
Senior advocate Mukul Rohatgi, representing the Adani Group, also pointed out that the chargesheet does not specify any details regarding bribery or who may have been allegedly bribed.
The controversy follows an announcement by Gautam Adani on November 13, in which he revealed plans to invest $10 billion in US energy security and infrastructure projects. The statement on social media congratulated US President-elect Donald Trump and highlighted the Adani Group’s commitment to investing in projects that could create up to 15,000 jobs in the United States.
The ongoing legal issues have added to the scrutiny surrounding the Adani Group, but the company continues to maintain its position regarding the charges.
