Gautam Adani and Executives Charged in $265 Million Solar Energy Fraud Case by DOJ

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US prosecutors charged Gautam Adani and seven executives with orchestrating a $250 million bribery scheme to secure Indian solar energy contracts, causing Adani Group companies to lose $26 billion in market value.

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Why did conspirators use code names like "Numero Uno" and "The Big Man" while creating PowerPoint presentations and Excel sheets to analyze bribe payment options?

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Cell phone records, photographs, and electronic communications between conspirators documented detailed bribe amounts and payment schemes spanning 2020-2024.

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Adani Green Energy's plans for a $600 million bond issue crumbled while stock prices plummeted - Adani Enterprises fell 23.44%, Green dropped 18.95%, and Energy Solutions hit 20% lower circuit.

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How did the 12-gigawatt solar power contracts, projected to generate $2 billion in after-tax profits over 20 years, involve power purchase agreements across five Indian states?

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Kenya's government swiftly canceled procurement processes worth nearly $2 billion, including Nairobi airport management and power line construction projects.

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SECI CMD RP Gupta and former Chhattisgarh CM Bhupesh Baghel issued statements denying involvement, while Adani Group called charges "baseless" and promised legal action.

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Moody's Rating labeled the indictment "credit negative," warning of impacts on Adani companies' capital access and liquidity requirements.

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Securities fraud, conspiracy, and wire fraud charges filed in Brooklyn federal court mark second major challenge since Hindenburg Research's 2023 allegations of stock manipulation.

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