Sagar Adani, the nephew of industrialist Gautam Adani, and six others in connection with an alleged bribery and fraud scheme linked to a renewable energy project in India. Prosecutors allege that the defendants, including Gautam Adani, conspired to pay $265 million in bribes to Indian government officials to secure contracts for developing India's largest solar power plant.
The Adani Group has denied the allegations, terming them baseless. The company has stated that it will explore “all possible legal recourse” to address the charges.
Who is Sagar Adani? Who's Sagar Adani's Father?
- Sagar Adani is the son of Rajesh Adani, Gautam Adani's brother, and has been involved with the Adani Group since its inception.
- He serves as an executive director at Adani Green Energy, where his father also holds a director position.
- After graduating from Brown University in 2015 with a degree in economics, Sagar Adani joined the Adani Group.
- He is credited with significantly expanding Adani Green Energy’s solar and wind energy portfolios and is responsible for the company’s strategic, financial, and structural development.
- According to Bloomberg, Sagar Adani is considered one of the key successors to Gautam Adani’s business empire, alongside Karan and Jeet Adani (Gautam Adani’s sons) and Pranav Adani (another nephew).
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What are the allegations against Sagar Adani?
According to Reuters, US authorities have accused Gautam Adani and Sagar Adani of orchestrating a scheme to secure a solar energy project in India while misleading
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