Has India’s Adani gained reprieve from US corruption probe thanks to Trump?
India's Adani Group may receive a reprieve from a US corruption probe due to President Donald Trump's order to pause prosecutions under the Foreign Corrupt Practices Act (FCPA). This order directs a review of current and past actions related to the FCPA, potentially impacting the ongoing investigation into the Adani Group.
US prosecutors accused Gautam Adani and his nephew of orchestrating a $265 million bribery scheme to secure power supply deals in India, alleging that US investors were misled and US financial systems were used to raise billions for the conglomerate. These charges have become politically sensitive in India, given Adani's perceived close ties to Prime Minister Narendra Modi's government. While the pause offers a potential breather for the Adani Group, experts caution that it's too early to determine the long-term impact on the investigation.
via SCMP Full Text Feed
India's Adani Group may receive a reprieve from a US corruption probe due to President Donald Trump's order to pause prosecutions under the Foreign Corrupt Practices Act (FCPA). This order directs a review of current and past actions related to the FCPA, potentially impacting the ongoing investigation into the Adani Group.
US prosecutors accused Gautam Adani and his nephew of orchestrating a $265 million bribery scheme to secure power supply deals in India, alleging that US investors were misled and US financial systems were used to raise billions for the conglomerate. These charges have become politically sensitive in India, given Adani's perceived close ties to Prime Minister Narendra Modi's government. While the pause offers a potential breather for the Adani Group, experts caution that it's too early to determine the long-term impact on the investigation.
via SCMP Full Text Feed
