US probing Adani Group over potential bribery
US prosecutors have widened their probe of India’s Adani Group to focus on whether the company may have engaged in bribery as well as the conduct of the company’s billionaire founder, according to people with direct knowledge of the matter.
Investigators are digging into whether an Adani entity, or people linked to the company including Gautam Adani, were involved in paying officials in India for favourable treatment on an energy project, said the people, who asked not to be identified discussing the confidential effort. The probe, which is also looking at Indian renewable energy company Azure Power Global Ltd., is being handled by the US Attorney’s Office for the Eastern District of New York and the Justice Department’s fraud unit in Washington, said people familiar with the matter.
“We are not aware of any investigation against our chairman,” Adani Group said in an emailed statement. “As a business group that operates with the highest standards of governance, we are subject to and fully compliant with anti-corruption and anti-bribery laws in India and other countries.”
Representatives for the Justice Department in Brooklyn and Washington declined to comment. Azure didn’t respond to requests for comment. Gautam Adani, his company and Azure haven’t been charged with wrongdoing by the Justice Department, and investigations don’t always lead to prosecutions.
In addition to being a monolithic presence in its home country, with ports, airports, power lines and highway developments, Adani Group attracts capital from around the world. US law allows federal prosecutors to pursue foreign corruption allegations if they involve certain links to American investors or markets.
