During the Lok Sabha elections in Ahmedabad, Gautam Adani, the chairman of the Indian conglomerate Adani Group, displays his inked finger.
The charges against Gautam Adani include conspiracy to commit wire fraud, securities fraud, and foreign bribery. He allegedly paid more than $250 million in bribes to obtain $2 billion in solar contracts over a 20-year period, according to the prosecution. Charges of overseas bribery are permissible under US law for businesses that conduct business there.
US prosecutors would need to ask for Gautam Adani’s extradition if he is in India. India’s courts would consider any political or human rights issues as well as whether the charges are applicable under Indian law. The procedure could be drawn out if Gautam Adani challenges extradition.
Gautam Adani has not made a plea because he has not been in a US court, according to news agency Reuters. His attorneys may contest the charges if he is extradited or surrenders. Prosecutors are not required to accept a plea agreement, but they are free to negotiate one.
It’s unlikely that a trial will start soon. The process may be delayed by legal actions, such as challenges to the evidence and possible separate trials for Adani’s seven co-defendants, according to sources.
Adani could spend up to five years in prison for bribery and up to twenty years in prison for conspiracy and fraud if found guilty. He might also be subject to severe financial sanctions. According to the Reuters article, the presiding judge would ultimately decide any penalty.
Any conviction could be appealed by Adani’s legal team, which could make the court struggle drawn out.
The Adani Group has refuted the accusations, claiming that all laws are being followed and labelling them “baseless.”
