Bilionea Gautam Adani ambaye Kafulila anataka kumpa shirika la TANESCO ashitakiwa kwa utapeli huko Marekani

[Jidu La Mabambasi]

Bilionea wa kihindi Gautam Adani ameshitakiwa kwa utapeli na rushwa katika mahakama ya New York. Yeye na wenzake wanatuhumia kuahidi rushwa za mamiliono ya dola kwa maafisa wa serikali ili kupewa mikataba na tenda kimagumashi ikiwemo ya umeme wa solar.

Itakumbukwa kuwa moja ya makampuni ya bilionea huyo liitwalo Adani Group ya India imekuwa ikipigiwa chapuo "kuwekeza" katika shirika la TANESCO kwa njia ya PPP na dalali wa taifa David Kafulila.

Kwenye dunia hii hakuna wajomba, kila nchi inaangalia maslahi yake kwanza na wajinga ndio waliwao. Tuendelee kuweka watu wajinga kwenye nafasi nyeti ili tuendelee kupigwa mpaka siku Yesu anarudi.

https://edition.cnn.com/2024/11/20/business/gautam-adani-indicted?Date=20241120&Profile=CNN&utm_content=1732138185&utm_medium=social&utm_source=twitter

Kafulila naye hajaingizwa mfukoni?

 

[Ukwelimtupu00]

Sio tu they dont care,they dont have exposure to deal with unscrupulous, pathetic conmen.
Huyo gwiji la Kihindi Adani lina wajuzi wa mikataba kibao, ujanja mwingi,uzoefu wa kupambana na nchi za wajuaji,watoaji hongo kubwa kubwa kwa mpangilio.Waje eti wapambane na Bwana Mdogo Kafulila aliyevishwa Ukurugenzi kama kilemba cha ukoko?Nada!!
Huyo Adani sio mgeni ndio mmliki mpya wa TPA Berth no 8,9,10,11 zilizokuwa zinamilikuwa na akina Karamagi.
Bado anataka kujisogeza kwenye umeme wa TANESCO,Reli ya TRC.Bila kumungunya maneno serikali ya Tanzania haina uwezo wa kumdhibiti kigogo huyo wa kihindi,ni bora kiustaarabu kumwambia NO THANK YOU.

Huyu mama Abdul, the sooner she leaves the better.

 

[mliberali]

Kwa tunaomjua Kafulia, hamna kitu. Ni jambazi kuliko hata Makonda akiona fedha. Huyu gabacholi kakatliwa Kenya kiasi cha watu kuandaman. Tuna matatizo gani watanzania au ni ufisadi na ubinafsi mbali na upofu wa akina Kafulia na waliomteua?

Huyu dogo tumbili ataingia na kuingiza nchi kwenye kashfa kubwa kuliko Hata Ile ya escrow ni swalan la muda muda tu.

 

[Nangu Nyau]

Hizi dili na wahindi na hizi akili zetu tuwe makini sana.

 

[chiembe]

Bilionea wa kihindi Gautam Adani ameshitakiwa kwa utapeli na rushwa katika mahakama ya New York. Yeye na wenzake wanatuhumia kuahidi rushwa za mamiliono ya dola kwa maafisa wa serikali ili kupewa mikataba na tenda kimagumashi ikiwemo ya umeme wa solar.

Itakumbukwa kuwa moja ya makampuni ya bilionea huyo liitwalo Adani Group ya India imekuwa ikipigiwa chapuo "kuwekeza" katika shirika la TANESCO kwa njia ya PPP na dalali wa taifa David Kafulila.

Kwenye dunia hii hakuna wajomba, kila nchi inaangalia maslahi yake kwanza na wajinga ndio waliwao. Tuendelee kuweka watu wajinga kwenye nafasi nyeti ili tuendelee kupigwa mpaka siku Yesu anarudi.

=====

Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday.

Authorities said Adani and seven other senior business executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts.

Those bribes were “to lie to investors and banks to raise billions of dollars, and to obstruct justice,” said Deputy Assistant Attorney General Lisa Miller in a statement Wednesday.
Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. He is the founder of sprawling Indian conglomerate Adani Group.

The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period.

Authorities said Adani personally met with an Indian government official to advance the scheme, which took place between 2020 to 2024. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.

Some of that documentation included a cell phone to extensively track specific details on the bribes, a photograph of a document summarizing various bribe amounts and PowerPoint and Excel analyses “that summarized various options for paying and concealing bribe payments,” the Department said in its statement.

Adani and his associates tried to hide these bribery schemes from US investors “in order to obtain financing, including to fund those solar energy supply contracts procured through bribery,” the DOJ said.

In a parallel action, the Securities and Exchange Commission also charged both Adanis (as executives of Adani Green Energy Ltd) and Cyril Cabanes, an executive of Azure Power Global, for the bribery scheme that the SEC said allowed both companies to capitalize off a lucrative contract by the Indian government. The SEC said Adani Green raised more than $175 million from US investors on those misrepresentations.

Adani was accused by the US short-seller Hindenburg Research of a “brazen stock manipulation and accounting fraud scheme” in January 2023. Adani’s fortune – which at one point in 2022 was worth more than Jeff Bezos – plummeted over $80 billion following the report.

His net worth currently sits at $85.5 billion on the Bloomberg Billionaires Index.

In its investigation, which Hindenburg said took two years to compile, the American firm had questioned the “sky-high valuations” of Adani companies and said their “substantial debt” put the entire group “on a precarious financial footing.” Short-sellers make money by betting that a company’s stock will fall.

The Adani Group published a 400-page rebuttal, calling the Hindenburg analysis “nothing but a lie.”

Adani is a seen as a close ally of Indian Prime Minister Narendra Modi and began his career in diamond trading. He set up a commodity trading business in 1988, which later evolved into Adani Enterprises, and now has firms in key sectors ranging from ports and power to media and clean energy.

CNN Business

Kafulia ni mtu wa hovyo hovyo tu

 

[cumbamalema]

Bilionea wa kihindi Gautam Adani ameshitakiwa kwa utapeli na rushwa katika mahakama ya New York. Yeye na wenzake wanatuhumia kuahidi rushwa za mamiliono ya dola kwa maafisa wa serikali ili kupewa mikataba na tenda kimagumashi ikiwemo ya umeme wa solar.

Itakumbukwa kuwa moja ya makampuni ya bilionea huyo liitwalo Adani Group ya India imekuwa ikipigiwa chapuo "kuwekeza" katika shirika la TANESCO kwa njia ya PPP na dalali wa taifa David Kafulila.

Kwenye dunia hii hakuna wajomba, kila nchi inaangalia maslahi yake kwanza na wajinga ndio waliwao. Tuendelee kuweka watu wajinga kwenye nafasi nyeti ili tuendelee kupigwa mpaka siku Yesu anarudi.

=====

Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday.

Authorities said Adani and seven other senior business executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts.

Those bribes were “to lie to investors and banks to raise billions of dollars, and to obstruct justice,” said Deputy Assistant Attorney General Lisa Miller in a statement Wednesday.
Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. He is the founder of sprawling Indian conglomerate Adani Group.

The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period.

Authorities said Adani personally met with an Indian government official to advance the scheme, which took place between 2020 to 2024. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.

Some of that documentation included a cell phone to extensively track specific details on the bribes, a photograph of a document summarizing various bribe amounts and PowerPoint and Excel analyses “that summarized various options for paying and concealing bribe payments,” the Department said in its statement.

Adani and his associates tried to hide these bribery schemes from US investors “in order to obtain financing, including to fund those solar energy supply contracts procured through bribery,” the DOJ said.

In a parallel action, the Securities and Exchange Commission also charged both Adanis (as executives of Adani Green Energy Ltd) and Cyril Cabanes, an executive of Azure Power Global, for the bribery scheme that the SEC said allowed both companies to capitalize off a lucrative contract by the Indian government. The SEC said Adani Green raised more than $175 million from US investors on those misrepresentations.

Adani was accused by the US short-seller Hindenburg Research of a “brazen stock manipulation and accounting fraud scheme” in January 2023. Adani’s fortune – which at one point in 2022 was worth more than Jeff Bezos – plummeted over $80 billion following the report.

His net worth currently sits at $85.5 billion on the Bloomberg Billionaires Index.

In its investigation, which Hindenburg said took two years to compile, the American firm had questioned the “sky-high valuations” of Adani companies and said their “substantial debt” put the entire group “on a precarious financial footing.” Short-sellers make money by betting that a company’s stock will fall.

The Adani Group published a 400-page rebuttal, calling the Hindenburg analysis “nothing but a lie.”

Adani is a seen as a close ally of Indian Prime Minister Narendra Modi and began his career in diamond trading. He set up a commodity trading business in 1988, which later evolved into Adani Enterprises, and now has firms in key sectors ranging from ports and power to media and clean energy.

CNN Business

lucasi ukimaliza kunya uje utete ujinga wako halafu mnajifanya mna uchungu na inchi kumbe kuna wezi Viongozo na Wajinga ambao ni Wananchi kama wewe Lucasi

 

[Mtoa Taarifa]

Waendesha mashtaka wamemshtaki Gautam Adani, Mmiliki wa Kampuni za Adani Group kwa kusaidia utoaji Rushwa ya Dola Milioni 250 (zaidi ya Tsh. Bilioni 663.45), kwa Maafisa wa Serikali ya India ili apate Tenda ya Usambazaji Sola.

Adani na wenzake watatu wanatuhumiwa kupanga kujipatia Pesa kutoka kwa wawekezaji wa Marekani ambapo kwa Sheria za Nchi hiyo Waendesha Mashtaka wanahusiwa kufuatilia kampuni za Kigeni endapo zitahusisha wawekezaji wa Marekani au masoko yake.


A former executive at Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) has been indicted along with Indian billionaire Gautam Adani and other senior officials at the Adani Group, by the US prosecutors, for their alleged role in what may have been a case of multi-billion-dollar bribery and fraud.

Cyril Cabanes, a former managing director of infrastructure for Asia-Pacific at CDPQ has been named alongside Gautam Adani, his nephew Sagar Adani and Vineet Jaain for allegedly agreeing between 2020 and 2024 to pay $250 million (over Rs 2,100 crore) in bribes to officials in India, to win solar energy supply contracts at above market rates, that could yield profits of the order of $2 billion.

Cabanes had left CDPQ in January this year and is now the chief executive officer at MorGen Energy, according to his LinkedIn profile.

CDPQ is the majority owner of India-based green energy firm Azure Power that was earlier listed on the New York Stock Exchange (NYSE) but has since been delisted from the bourse.

Cabanes, who was on the board of directors at Azure Power, has been charged with Foreign Corrupt Practices Act (FCPA) violations for his role in the alleged bribery scheme.

Cabanes allegedly facilitated the authorization of bribes in furtherance of the scheme while in the US and abroad, as per a complaint by the US Securities and Exchange Commission.

“According to the SEC’s allegations, the bribery scheme was orchestrated to enable the two renewable energy companies to capitalise on a multi-billion-dollar solar energy project that the companies had been awarded by the Indian government. During the alleged scheme, Adani Green raised more than $175 million from US investors and Azure Power’s stock was traded on the New York Stock Exchange,” the SEC statement

Apart from this, the Adani Group’s green energy company is also alleged to have raised bonds and loans worth more than $3 billion allegedly based on false and misleading statements, reports said.

While Gautam Adani heads the Adani Group, his nephew is an executive director on Adani Green’s board.

The SEC complaint says that the Adanis paid or promised to pay hundreds of millions of dollars in bribes to government officials in India to get their commitment on purchasing energy at above market rates, which would directly benefit Adani Green and Azure Power.

The allegations say that the Adanis were engaged in the bribery scheme during a 2021 offering by Adani Green that raised $750 million, of which $175 million was raised from US investors. “The Adani Green offering materials included statements about its anti-corruption and anti-bribery efforts that were materially false or misleading in light of Gautam and Sagar Adani’s conduct,” the SEC said in its statement.

The SEC’s division of enforcement, which is headed by an Indian origin official Sanjay Wadhwa, has alleged that the Adanis induced investors in the US to purchase bonds of Adani Green via an offering that not only allegedly misrepresented that Adani Green had an anti-bribery compliance programme but also that the senior management would not indulge in bribery. Cabanes is alleged to have participated in the bribery scheme while serving as director at Azure, which was then publicly-listed on the NYSE.

The SEC’s complaint against Gautam and Sagar Adani charges them with violating the antifraud provisions of the federal securities laws. The complaint seeks permanent injunctions, civil penalties, and officer and director bars. The SEC’s complaint against Cabanes charges him with violating the FCPA and seeks a permanent injunction, a civil penalty, and an officer and director bar. Both complaints were filed in the US District Court for the Eastern District of New York.

Most Adani Group stocks were down over 10% on Indian stock exchanges in Thursday morning trade, following these allegations.

 

[Kiraka]

Wenzetu wako serious sana lakin hapa nyumbani they dont care, madhara huwa yanaonekana baadae sana halaf watakaa kimyankama hawajui kilichotokea

Sio they dont care.. wanakuwa washakula 10% sasa wafanyaje?

 

[Msanii]

Tunapaswa kuiweka CCM pembeni.

Hawa jamaa si wanapigiwa chapuo waiendeshe TANESCO?

 

[Mnyenz]

Napendekeza hukumu yake ikatolewe korea kaskazini.

 

[Detective J]

Sio they dont care.. wanakuwa washakula 10% sasa wafanyaje?

Yaani 10% imekuwa normalized, imekuwa ni mfumo rasmi wakati ni rushwa na urasimu? Aisee tuna safari ndefu

 

[johnthebaptist]

ADANI amezua taharuki Nchi Jirani baada ya Utapeli wake kubainika huko New York Marekani

Wananchi wamechachamaa wakitaka Jommo Kenyatta International Airport irejeshwe Serikalini

Je, kiendacho kwa Mganga kinarudi?

Credit: Citizen TV

 

[Burkinabe]

Adan kawa Adan!

 

[Babu Kijiwe]

Bilionea wa India, Gautam Adani ameshtakiwa kwa ulaghai nchini Marekani, katika mpango wa kutoa rushwa ya dola za kimarekani milioni 250 (£198m).

Mashtaka ya jinai, yaliyowasilishwa Jumatano huko New York, ni pigo la hivi karibuni kwa Bw Adani mwenye umri wa miaka 62, mmoja wa watu tajiri zaidi nchini India, ambaye biashara yake imeenea katika bandari na viwanja vya ndege hadi nishati mbadala.

Katika shtaka hilo, waendesha mashtaka wanadai tajiri huyo na watendaji wengine wakuu walikubali kutoa malipo hayo kwa maafisa wa India ili kushinda kandarasi za kampuni yake ya nishati mbadala inayotarajiwa kupata faida ya zaidi ya dola bilioni 2 kwa miaka 20.

Kundi la Adani halijajibu ombi la kutoa maoni juu ya kadhia hiyo.

Uchunguzi huu wa hongo umefanyika kwa miezi kadhaa. Waendesha mashtaka walisema, Marekani ilianza kuchunguza kampuni hiyo mwaka 2022.

 

[Investigation Unit]

Tunapaswa kuiweka CCM pembeni.

Hawa jamaa si wanapigiwa chapuo waiendeshe TANESCO?

Acha ujinga wewe

 

[Investigation Unit]

Bilionea wa kihindi Gautam Adani ameshitakiwa kwa utapeli na rushwa katika mahakama ya New York. Yeye na wenzake wanatuhumia kuahidi rushwa za mamiliono ya dola kwa maafisa wa serikali ili kupewa mikataba na tenda kimagumashi ikiwemo ya umeme wa solar.

Itakumbukwa kuwa moja ya makampuni ya bilionea huyo liitwalo Adani Group ya India imekuwa ikipigiwa chapuo "kuwekeza" katika shirika la TANESCO kwa njia ya PPP na dalali wa taifa David Kafulila.

Kwenye dunia hii hakuna wajomba, kila nchi inaangalia maslahi yake kwanza na wajinga ndio waliwao. Tuendelee kuweka watu wajinga kwenye nafasi nyeti ili tuendelee kupigwa mpaka siku Yesu anarudi.

=====

Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday.

Authorities said Adani and seven other senior business executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts.

Those bribes were “to lie to investors and banks to raise billions of dollars, and to obstruct justice,” said Deputy Assistant Attorney General Lisa Miller in a statement Wednesday.

Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. He is the founder of sprawling Indian conglomerate Adani Group.

The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period.

Authorities said Adani personally met with an Indian government official to advance the scheme, which took place between 2020 to 2024. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.

Some of that documentation included a cell phone to extensively track specific details on the bribes, a photograph of a document summarizing various bribe amounts and PowerPoint and Excel analyses “that summarized various options for paying and concealing bribe payments,” the Department said in its statement.

Adani and his associates tried to hide these bribery schemes from US investors “in order to obtain financing, including to fund those solar energy supply contracts procured through bribery,” the DOJ said.

In a parallel action, the Securities and Exchange Commission also charged both Adanis (as executives of Adani Green Energy Ltd) and Cyril Cabanes, an executive of Azure Power Global, for the bribery scheme that the SEC said allowed both companies to capitalize off a lucrative contract by the Indian government. The SEC said Adani Green raised more than $175 million from US investors on those misrepresentations.

Adani was accused by the US short-seller Hindenburg Research of a “brazen stock manipulation and accounting fraud scheme” in January 2023. Adani’s fortune – which at one point in 2022 was worth more than Jeff Bezos – plummeted over $80 billion following the report.

His net worth currently sits at $85.5 billion on the Bloomberg Billionaires Index.

In its investigation, which Hindenburg said took two years to compile, the American firm had questioned the “sky-high valuations” of Adani companies and said their “substantial debt” put the entire group “on a precarious financial footing.” Short-sellers make money by betting that a company’s stock will fall.

The Adani Group published a 400-page rebuttal, calling the Hindenburg analysis “nothing but a lie.”

Adani is a seen as a close ally of Indian Prime Minister Narendra Modi and began his career in diamond trading. He set up a commodity trading business in 1988, which later evolved into Adani Enterprises, and now has firms in key sectors ranging from ports and power to media and clean energy.

CNN Business

Sasa kuahidi rushwa ni Utapeli?

 

[Ulimakafu]

Bilionea wa kihindi Gautam Adani ameshitakiwa kwa utapeli na rushwa katika mahakama ya New York. Yeye na wenzake wanatuhumia kuahidi rushwa za mamiliono ya dola kwa maafisa wa serikali ili kupewa mikataba na tenda kimagumashi ikiwemo ya umeme wa solar.

Itakumbukwa kuwa moja ya makampuni ya bilionea huyo liitwalo Adani Group ya India imekuwa ikipigiwa chapuo "kuwekeza" katika shirika la TANESCO kwa njia ya PPP na dalali wa taifa David Kafulila.

Kwenye dunia hii hakuna wajomba, kila nchi inaangalia maslahi yake kwanza na wajinga ndio waliwao. Tuendelee kuweka watu wajinga kwenye nafasi nyeti ili tuendelee kupigwa mpaka siku Yesu anarudi.

=====

Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday.

Authorities said Adani and seven other senior business executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts.

Those bribes were “to lie to investors and banks to raise billions of dollars, and to obstruct justice,” said Deputy Assistant Attorney General Lisa Miller in a statement Wednesday.

Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. He is the founder of sprawling Indian conglomerate Adani Group.

The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period.

Authorities said Adani personally met with an Indian government official to advance the scheme, which took place between 2020 to 2024. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.

Some of that documentation included a cell phone to extensively track specific details on the bribes, a photograph of a document summarizing various bribe amounts and PowerPoint and Excel analyses “that summarized various options for paying and concealing bribe payments,” the Department said in its statement.

Adani and his associates tried to hide these bribery schemes from US investors “in order to obtain financing, including to fund those solar energy supply contracts procured through bribery,” the DOJ said.

In a parallel action, the Securities and Exchange Commission also charged both Adanis (as executives of Adani Green Energy Ltd) and Cyril Cabanes, an executive of Azure Power Global, for the bribery scheme that the SEC said allowed both companies to capitalize off a lucrative contract by the Indian government. The SEC said Adani Green raised more than $175 million from US investors on those misrepresentations.

Adani was accused by the US short-seller Hindenburg Research of a “brazen stock manipulation and accounting fraud scheme” in January 2023. Adani’s fortune – which at one point in 2022 was worth more than Jeff Bezos – plummeted over $80 billion following the report.

His net worth currently sits at $85.5 billion on the Bloomberg Billionaires Index.

In its investigation, which Hindenburg said took two years to compile, the American firm had questioned the “sky-high valuations” of Adani companies and said their “substantial debt” put the entire group “on a precarious financial footing.” Short-sellers make money by betting that a company’s stock will fall.

The Adani Group published a 400-page rebuttal, calling the Hindenburg analysis “nothing but a lie.”

Adani is a seen as a close ally of Indian Prime Minister Narendra Modi and began his career in diamond trading. He set up a commodity trading business in 1988, which later evolved into Adani Enterprises, and now has firms in key sectors ranging from ports and power to media and clean energy.

CNN Business

Kama wakikusikia nishtue.

 

[YEHOVA]

Mikataba mingi tumepigwa na tunaendelea kupigwa ni swala la muda tutashuhudia mengi.

Kwani kapewa mkataba?

 

[Mzalendo Uchwara]

ADANI amezua taharuki Nchi Jirani baada ya Utapeli wake kubainika huko New York Marekani

Wananchi wamechachamaa wakitaka Jommo Kenyatta International Airport irejeshwe Serikalini

Je, kiendacho kwa Mganga kinarudi?

Credit: Citizen TV

Hakirudiii

 

[WALOLA VUNZYA]

Bilionea wa kihindi Gautam Adani ameshitakiwa kwa utapeli na rushwa katika mahakama ya New York. Yeye na wenzake wanatuhumia kuahidi rushwa za mamiliono ya dola kwa maafisa wa serikali ili kupewa mikataba na tenda kimagumashi ikiwemo ya umeme wa solar.

Itakumbukwa kuwa moja ya makampuni ya bilionea huyo liitwalo Adani Group ya India imekuwa ikipigiwa chapuo "kuwekeza" katika shirika la TANESCO kwa njia ya PPP na dalali wa taifa David Kafulila.

Kwenye dunia hii hakuna wajomba, kila nchi inaangalia maslahi yake kwanza na wajinga ndio waliwao. Tuendelee kuweka watu wajinga kwenye nafasi nyeti ili tuendelee kupigwa mpaka siku Yesu anarudi.

=====

Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday.

Authorities said Adani and seven other senior business executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts.

Those bribes were “to lie to investors and banks to raise billions of dollars, and to obstruct justice,” said Deputy Assistant Attorney General Lisa Miller in a statement Wednesday.

Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. He is the founder of sprawling Indian conglomerate Adani Group.

The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period.

Authorities said Adani personally met with an Indian government official to advance the scheme, which took place between 2020 to 2024. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.

Some of that documentation included a cell phone to extensively track specific details on the bribes, a photograph of a document summarizing various bribe amounts and PowerPoint and Excel analyses “that summarized various options for paying and concealing bribe payments,” the Department said in its statement.

Adani and his associates tried to hide these bribery schemes from US investors “in order to obtain financing, including to fund those solar energy supply contracts procured through bribery,” the DOJ said.

In a parallel action, the Securities and Exchange Commission also charged both Adanis (as executives of Adani Green Energy Ltd) and Cyril Cabanes, an executive of Azure Power Global, for the bribery scheme that the SEC said allowed both companies to capitalize off a lucrative contract by the Indian government. The SEC said Adani Green raised more than $175 million from US investors on those misrepresentations.

Adani was accused by the US short-seller Hindenburg Research of a “brazen stock manipulation and accounting fraud scheme” in January 2023. Adani’s fortune – which at one point in 2022 was worth more than Jeff Bezos – plummeted over $80 billion following the report.

His net worth currently sits at $85.5 billion on the Bloomberg Billionaires Index.

In its investigation, which Hindenburg said took two years to compile, the American firm had questioned the “sky-high valuations” of Adani companies and said their “substantial debt” put the entire group “on a precarious financial footing.” Short-sellers make money by betting that a company’s stock will fall.

The Adani Group published a 400-page rebuttal, calling the Hindenburg analysis “nothing but a lie.”

Adani is a seen as a close ally of Indian Prime Minister Narendra Modi and began his career in diamond trading. He set up a commodity trading business in 1988, which later evolved into Adani Enterprises, and now has firms in key sectors ranging from ports and power to media and clean energy.

CNN Business

Vibaraka wa ccm wameingizwa ccm ili kuitafuna nchi