'Adanis not named in FCPA or obstruction charges': Ex-attorney general Mukul Rohatgi clarifies
Adani Green Energy Ltd. (AGEL) issued a statement refuting media reports suggesting bribery charges against Gautam Adani and Sagar Adani. AGEL clarified that neither has been charged under the FCPA. Instead, the charges focus on securities and wire fraud.
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FollowSenior advocate and former attorney general Mukul Rohatgi on Wednesday (November 27) addressed the media, shedding light on allegations against Gautam Adani, chairman of the Adani Group, his nephew Sagar Adani, and others. The accusations stem from a criminal indictment and civil complaint filed by US prosecutors and regulators.
Rohatgi clarified that neither Gautam Adani nor Sagar Adani has been named in counts related to bribery or obstruction of justice under the US Foreign Corrupt Practices Act (FCPA).
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"Counts 1 and 5 of the indictment, relating to FCPA violations and obstruction of justice, do not name Gautam Adani or his nephew. Some other individuals, including foreign parties, have been named. Whether they are connected to the Adani Group or not, they will respond. I wanted to clarify that the Adanis are not implicated in these serious charges," Rohatgi said.
The allegations arise from a criminal indictment filed by the US Department of Justice (DoJ) and a civil complaint by the Securities and Exchange Commission (SEC) in a New York federal court. While the indictment includes securities fraud and wire fraud charges against the Adanis, Rohatgi emphasized the lack of specifics concerning bribery claims.
"The indictment doesn't detail who was bribed, how, or from which department. Such omissions raise questions about the credibility of these allegations," Rohatgi added.
Meanwhile, Adani Green Energy Ltd. (AGEL) issued a statement refuting media reports suggesting bribery charges against Gautam Adani and Sagar Adani. AGEL clarified that neither has been charged under the FCPA. Instead, the charges focus on securities and wire fraud.
The indictment, alleging a $265 million bribery scheme to secure solar energy contracts in India, follows earlier controversies, including a Hindenburg Research report accusing the Adani Group of stock manipulation and accounting fraud.
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