Gautam Adani, chairman of India’s Adani Group, and seven others face US charges in a $2 billion fraud and bribery allegation. The group allegedly paid $265 million in bribes to Indian officials to secure solar energy contracts. Adani Group shares fell up to 20% on news of the indictment. The charges come 22 months after Hindenburg Research’s allegations against the group shaved off $150 billion from its market cap. Meanwhile, GQG Partners, which invested heavily in the Adani Group, saw its stock tumble 20%.
#adanigroup #usfraudcharges #briberyallegations #itwebvideos #hindenburgresearch #gqgpartners
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