Indian billionaire Gautam Adani has been indicted in the U.S., accused of misleading investors over an energy deal. The indictment says Adani Green, a subsidiary of Adani Group, planned to pay Indian officials US$250 million in bribes to secure contracts for their renewable energy business, and hid the scheme from U.S. investors and banks.
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00:00That was Futurum Group CEO Daniel Newman.
00:05Indian billionaire Gautam Adani has been indicted in the U.S. over an alleged fraud scheme.
00:10Prosecutors say Adani and two other executives planned to pay Indian officials $250 million
00:16U.S. dollars in bribes to secure contracts for their renewable energy business.
00:22The scheme was expected to yield $2 billion U.S. dollars in profits.
00:26They're accused of hiding their plan from U.S. investors and banks.
00:30Adani is one of the richest men in the world, worth an estimated $69 billion U.S. dollars
00:35according to Forbes.