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News in English (USA) / 21.11.2024 / 20:00

Gautam Adani Indicted in the US, Major Deals in Kenya Canceled

Indian billionaire Gautam Adani faces serious legal troubles after being indicted in the US on multiple counts of fraud and a massive bribery scheme, with charges alleging a $250 million bribery plot. The fallout from these charges has led to a dramatic decline in the stock prices of the Adani Group, erasing billions from the corporate empire. In a significant political and economic development, Kenya has canceled over $2.5 billion in deals with the Adani Group, including major airport and power projects, amid concerns over the implications of the US indictment. This situation has raised questions about the integrity of the Adani Group and its close ties to the Modi government in India, drawing attention from both financial markets and political opposition.
BBC.com, CNBC, Reuters, The Economic Times, Mint, The Hindu, Financial Times, The New York Times, The Associated Press, The Times of India