
Table of Contents
“Gautam Adani Faces Fraud Allegations in New York: ₹2,200 Crore Bribery Claim Shakes Empire, ₹1.02 Lakh Crore Net Worth Slump”
Gautam Adani Faces Fraud Allegations in New York:
According to the Forbes Real Time Billionaires List, 62-year-old Gautam Adani’s wealth is $ 57.7 billion (Rs 4.87 lakh crore).
In the US, 8 people including industrialist Gautam Adani have been accused of fraud worth billions of rupees. The United States Attorney’s Office says that Adani gave or was planning to give a bribe of $ 265 million (about Rs 2200 crore) to Indian officials to get a contract related to solar energy in India.
This entire matter is related to Adani Group company Adani Green Energy Limited and another firm. The case was filed in the Federal Court of New York on 24 October 2024. In its hearing on Wednesday, Gautam Adani, his nephew Sagar Adani, Vineet S Jain, Ranjit Gupta, Cyril Cabanis, Saurabh Aggarwal, Deepak Malhotra and Rupesh Aggarwal have been made accused.
According to a Reuters report, an arrest warrant has also been issued against Gautam Adani and Sagar. Sagar is an officer of Adani Green Energy Limited. Money of American investors, so the case is there Adani is accused of lying to American investors and banks to raise this amount of bribe. This case was registered in the US because the money of American investors was invested in this project and under US law it is a crime to give that money as a bribe.
Adani said – all allegations are baseless, deny Adani Group has called all the allegations baseless. The group said in a statement- ‘The allegations leveled by the United States Department of Justice and the United States Securities and Exchange Commission against the directors of Adani Green Energy Limited are baseless. We deny them. The US Department of Justice itself said that these are just allegations right now. The accused are presumed innocent until proven guilty.
Adani Green Energy halts bond offering
On Wednesday, Adani Group announced raising $600 million (Rs 5064 crore) from the sale of 20-year green bonds. Hours later, they were accused of fraud.
Adani Green Energy Limited said in a stock exchange filing – The United States Department of Justice and the United States Securities and Exchange Commission have filed a criminal case and a civil complaint in the New York District Court against our board members Gautam Adani and Sagar Adani.
The US Department of Justice has also included our board member Vineet Jain in this criminal case. In view of this, our subsidiaries have decided not to proceed with the proposed bond offering for the time being. Now Adani Group has also postponed this bond offering.
Gautam Adani’s net worth fell by ₹ 1.02 lakh crore in a day
The net worth of Adani Group Chairman Gautam Adani has fallen by $ 12.1 billion (about Rs 1.02 lakh crore) to $ 57.7 billion (Rs 4.87 lakh crore) in a day due to the fall in the shares of companies after allegations of bribery and fraud. With this, Adani has come directly from number 25 to number 22 in the Forbes Real Time Billionaires List. However, even after this, Gautam Adani remains the second richest Indian after Mukesh Ambani.
9 out of 10 shares of Adani Group fall
9 out of 10 shares of Adani Group closed with a decline and 1 rise. Adani Enterprises fell the most by 23.44%. Whereas, shares of Adani Green Energy fell by 18.95%.
Sagar Adani manages the energy business

Gautam Adani’s nephew Sagar has an economics degree from Brown University US. Sagar joined the Adani Group in 2015. Sagar manages the group’s energy business and finance. He focuses on the renewable energy business and plans to make the company the world’s largest renewable energy producer by 2030.
Adani Green Energy has a clean energy portfolio of over 20 gigawatts
Adani Green Energy Limited has a clean energy portfolio of over 20 gigawatts, including one of the world’s largest solar power plants in the southern state of Tamil Nadu. The Adani Group aims to become the country’s largest company in this sector by 2030. The company has a market cap of Rs 1.85 lakh crore.
Adani Green Energy is setting up a 30,000 MW solar plant at a location in Khavda, Gujarat.
Adani Green Energy is setting up a 30,000 MW solar plant at a place in Khavda, Gujarat.
Congress demands probe from JPC
After allegations of bribery and fraud in the US, the Congress on Thursday demanded a probe by the Joint Parliamentary Committee (JPC). Jairam Ramesh, general secretary and communication in-charge of the US Attorney Congress, said – The serious allegations leveled by the US Attorney’s Office against Adani and others associated with him justify the demand that the Congress has been making since January 2023.
Adani announced investment in the US last week
Adani has recently announced to invest $10 billion (Rs 84406 crore) in the US, which was expected to create 15,000 jobs.
Conclusion
“Gautam Adani Accused of ₹2,200 Crore Bribery in Solar Contract: Fraud Allegations Trigger ₹1.02 Lakh Crore Net Worth Plunge” The recent charges against Gautam Adani in New York include serious allegations of bribery and securities fraud. US authorities have accused Adani and several of his associates of paying bribes totalling ₹2,200 crore to secure solar power contracts.
The charges levelled by the US Department of Justice and the Securities and Exchange Commission (SEC) claim violations of federal securities laws and engaging in foreign corrupt practices. Despite the Adani Group strongly denying these allegations and insisting they are baseless, the financial impact has been significant, with the market value of Adani Group shares declining sharply, resulting in losses of over ₹1.02 lakh crore.
It is important to note that these allegations remain under legal investigation, and all accused parties are presumed innocent until proven guilty. The case also highlights broader implications for the group’s international business reputation and investor confidence. While the allegations are being investigated, the Adani Group continues to emphasize its commitment to take legal recourse to defend its position.