In the latest on the US indictment of the top executives of Adani Group including Gautam Adani, the spotlight is on Sagar Adani. According to the Reuters report, the court filings indicate that Sagar Adani, the millennial scion of the company, kept track of the millions of dollars of alleged bribes to Indian officials on his mobile phone.
U.S. prosecutors called the notes on Adani’s phone “bribe notes.” In those notes, Sagar Adani, has noted the amount of the bribe that was offered along with details of which government official was offered. Additionally there were details of how much solar power will be bought by the official’s region in return of the bribe. The court filings show, he even identified a per megawatt bribe rate to secure the power contracts.
According to Reuters, in discussing how the bribery scheme was moving along in 2020, Sagar Adani remarked in a WhatsApp message: “Yup…but the optics are very difficult to cover.”
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Those optics became impossible to cover on Wednesday when Sagar Adani, his uncle Gautam Adani, one of the world’s richest men, and six others were indicted for fraud by U.S. prosecutors over their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals expected to yield $2 billion in profit over 20 years. The US Securities and Exchange Commission also filed a parallel civil case.
What did the ‘Bribe Notes’ indicate
The US Court filings report that Sagar Adani kept track of the payments made as alleged bribe to secure the power deals. According to the filings, “One WhatsApp message dated Feb. 25, 2021, dealt with the Indian states of Jammu and Kashmir as well as Chhattisgarh as potential purchasers of green power.” Sagar Adani wrote: “Just so you know,
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