The United States of America has charged controversial Indian Gautam Adani over a multi-billion-dollar fraud and bribery scheme. According to a report that was published by the British Broadcasting Corporation (BBC), Adani was charged after investigations in the US found that he was part of a scheme that had orchestrated a $250m (Sh. 32.2 billion) bribery scheme.
The investigator also stated that Adani and his conspirators had concealed the scheme in order to raise money in the US.
“In the criminal charges that were filed on Wednesday [November 20, 2024] in New York, prosecutors alleged the tycoon and other senior executives had agreed to the payments to Indian officials to win contracts for his renewable energy company expected to yield more than $2 billion (Sh. 258 billion) in profits over 20 years,” the BBC reported.
The BBC further quoted US authorities as saying that Adani and executives from his firms had executives raised $3 billion (Sh. 387 billion) in loans and bonds, including from US firms, on the backs of false and misleading statements related to the firm’s anti-bribery practices and policies, as well as reports of the bribery probe.
“As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and… lied about the bribery scheme as they sought to raise capital from U.S. and international investors,” the BBC quoted the US Attorney Breon Peace.
How JKIA Adani bad deal contrasts against Rwanda, Ethiopia new airport constructions
Mr. Adani and his Adani Group have recently scooped multi-billion deals in Kenya under the government of President William Ruto that is widely criticized for widespread corruption. The deals, according to statements from the government, have all been privately initiated by Adani.
The deals have been widely condemned with petitions filed in courts to block their implementation. Among these is the proposed takeover of the Jomo Kenyatta International Airport (JKIA) by the Adani Airport Holdings.
The government of President Ruto has been pushing to hand over the airport to the Adanis for a period of 30 years despite condemnation by aviation experts and labour strikes by aviation workers at the JKIA.
The government has also lined up multi-billion energy deals for the Adanis, who are also reported to be part of the mess that has characterized the controversial replacement of the National Health Insurance Fund (NHIF) and the roll out of the Social Health Insurance Fund (SHIF).
Ironically, the charges against Adani have come barely days after Transport Cabinet Secretary Davis Chirchir claimed that Adani was clean and had never previously been accused or charged with fraud.
