Gautam Adani, one of the world's richest people, was indicted in a New York federal court on charges regarding an alleged bribery and fraud scheme. An Adani Group spokesperson said the allegations made by the U.

Gautam Adani and his associates were accused of paying more than $250 million in bribes to obtain lucrative solar energy contracts.

The billionaire chair of the Indian conglomerate and one of the world's richest people has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme.

Shares of India's Adani Group companies plunged after its billionaire chair Gautam Adani was indicted in a New York federal court. The 62-year-old billionaire and the other defendants are accused of paying over $250 million in bribes to Indian government officials to secure solar energy contracts that could generate more than $2 billion in profits.

Gautam Adani was been indicted in New York federal court with other defendants in connection with an alleged multi-billion-dollar fraud scheme. The billionaire is chair of India’s Adani Group conglomerate and one of the world’s richest people.