The back and forth in the Adani US bribery case is just starting to gain more prominence with the statements from Adani Green refuting and denying allegations. Adani Green Energy refuted all allegations against Gautam Adani, Sagar Adani and senior executive Vneet Jaain, who are facing charges in a $265 million bribery case. Adani Green, in a regulatory filing, said that Gautam Adani, Sagar Adani and Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC.
“Our directors namely Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vneet Jaain have been charged with violation(s) of the U.S. Foreign Corrupt Practices Act (FCPA) in the indictment. Such statements are incorrect. Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC,” Adani Green said.
These directors have been charged on three counts in the criminal indictment namely (i) alleged securities fraud conspiracy, (ii) alleged wire fraud conspiracy, and (iii) alleged securities fraud.
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Charges detailed in indictment says otherwise
However, the indictment by the US District Court clearly names the aforementioned senior officials from Adani Group in the case.
Giving an overview of the Bribery Scheme, the indictment sheet stated, “Beginning in or about 2020, defendant Ranjit Gupta and Co-Conspirator #2, while acting within the scope of their employment as officers, employees and against of the US Issuer, knowingly and willfully conspired and agreed with each other and others, including but not limited to the defendants Gautam S Adani, Sagar R Adani and Vneet S Jaain,
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