Gautam Adani, one of the world's richest people, was indicted in a New York federal court on charges regarding an alleged bribery and fraud scheme. An Adani Group spokesperson said the allegations made by the U.

Gautam Adani, head of the Adani Group, faces indictment in New York for alleged bribery and fraud. Alongside other defendants, including his nephew Sagar Adani, they allegedly paid $265 million in bribes to secure contracts in India.

Shares of India's Adani Group companies plunged after its billionaire chair Gautam Adani was indicted in a New York federal court. The 62-year-old billionaire and the other defendants are accused of paying over $250 million in bribes to Indian government officials to secure solar energy contracts that could generate more than $2 billion in profits.

The billionaire chair of the Indian conglomerate and one of the world's richest people has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme.