NEW YORK: An Indian businessman who is one of the world’s richest people has been indicted in the US on charges he duped investors in a massive solar energy project in his home country by concealing that it was facilitated by alleged bribery.
Gautam Adani, 62, was charged in an indictment unsealed Wednesday with securities fraud and conspiring to commit securities and wire fraud.
He is accused of defrauding investors who poured several billion dollars into the project by failing to tell them about more than $250 million in bribes paid to Indian officials to secure lucrative solar energy supply contracts.
Several other people connected to Adani, his businesses and the project were also charged.
Gautam Adani is a power player in the world’s most populous nation. He built his fortune in the coal business coal in the 1990s. His Adani Group grew to involve many aspects of Indian life, from making defense equipment to building roads to selling cooking oil.
In recent years, Adani has made big moves into renewable energy.
Last year, a US-based financial research firm accused Adani his company of “brazen stock manipulation” and “accounting fraud.” The Adani Group called the claims “a malicious combination of selective misinformation and stale, baseless and discredited allegations.”
The firm in question is known as a short-seller, a Wall Street term for traders that essentially bet on the prices of certain stocks to fall, and it had made such investments in relation to the Adani Group.
US charges billionaire Gautam Adani with defrauding investors, hiding plan to bribe Indian officials
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US charges billionaire Gautam Adani with defrauding investors, hiding plan to bribe Indian officials
- Gautam Adani, 62, was charged with securities fraud in an indictment unsealed Wednesday
- Several other people connected to Adani, his businesses and the project were also charged
US border agent shoots and wounds two people in Portland
- The Portland shooting unfolded Thursday afternoon as US Border Patrol agents were conducting a targeted vehicle stop, the Department of Homeland Security said in a statement
A US immigration agent shot and wounded a man and a woman in Portland, Oregon, authorities said on Thursday, leading local officials to call for calm given public outrage over the ICE shooting death of a Minnesota woman a day earlier.
“We understand the heightened emotion and tension many are feeling in the wake of the shooting in Minneapolis, but I am asking the community to remain calm as we work to learn more,” Portland police chief Bob Day said in a statement.
The Portland shooting unfolded Thursday afternoon as US Border Patrol agents were conducting a targeted vehicle stop, the Department of Homeland Security said in a statement.
The statement said the driver, a suspected Venezuelan gang member, attempted to “weaponize” his vehicle and run over the agents. In response, DHS said, “an agent fired a defensive shot” and the driver and a passenger drove away.
Reuters was unable to independently verify the circumstances of the incident.
Portland police said that the shooting took place near a medical clinic in eastern Portland. Six minutes after arriving at the scene and determining federal agents were involved in the shooting, police were informed that two people with gunshot wounds — a man and a woman — were asking for help at a location about 2 miles (3 km) to the northeast of the medical clinic.
Police said they applied tourniquets to the man and woman, who were taken to a hospital. Their condition was unknown.
The shooting came just a day after a federal agent from US Immigration and Customs Enforcement (ICE), a separate agency within the Department of Homeland Security, fatally shot a 37-year-old mother of three in her car in Minneapolis.
That shooting has prompted two days of protests in Minneapolis. Officers from both ICE and Border Patrol have been deployed in cities across the United States as part of Republican President Donald Trump’s immigration crackdown.
While the aggressive enforcement operations have been cheered by the president’s supporters, Democrats and civil rights activists have decried the posture as an unnecessary provocation.
US officials contend criminal suspects and anti-Trump activists have increasingly used their cars as weapons, though video evidence has sometimes contradicted their claims.
Portland Mayor Keith Wilson said in a statement his city was now grappling with violence at the hands of federal agents and that “we cannot sit by while constitutional protections erode and bloodshed mounts.”
He called on ICE to halt all its operations in the city until an investigation can be completed.
“Federal militarization undermines effective, community-based public safety, and it runs counter to the values that define our region,” Wilson said. “I will use every legal and legislative tool available to protect our residents’ civil and human rights.”
