US DoJ Charges Adani Group Over False Statements and Bribery Allegations; Shares and Bonds Drop

 

The US Department of Justice (DoJ) has charged the Adani Group with misleading investors by making false representations to Indian stock exchanges, the NSE and BSE. The DoJ argues that, despite knowing of FBI and grand jury investigations into bribery charges, the Adani Group denied knowledge of these investigations. After learning of the US inquiry in March 2024, Gautam and Sagar Adani were purportedly made aware of subpoenas served on top officials and data seized from Sagar Adani's devices.