US fraud case exposes Adani’s bribery scandal, experts say extradition unlikely
New York: The US fraud case against Indian billionaire Gautam Adani, accused of bribing Indian officials and misleading investors, appears legally strong but faces hurdles in securing extradition, experts say.
Accordig to Kashmir Media Service, Federal prosecutors unsealed an indictment last month alleging that Adani and his associates bribed officials to facilitate power purchases for Adani Green Energy while falsely claiming robust anti-corruption practices to U.S. investors. Crucial evidence, including “bribe notes” found on Sagar Adani’s phone and email records linking Gautam Adani, significantly bolster the case.
Despite the solid evidence, legal experts believe securing live testimony from Indian witnesses or Adani’s extradition would be unlikely, as New Delhi may resist cooperation that implicates Indian officials. “The allegations are backed by corroborating material, which always strengthens a case,” said Stephen Reynolds, a former U.S. federal prosecutor.
Critics argue the scandal tarnishes corporate governance in India and undermines investor trust in its markets.
U.S. prosecutors emphasize the case’s importance for safeguarding market integrity, warning firms seeking access to American capital markets to “play by the rules.” If proven, the charges could lead to substantial prison terms for Adani and his associates, with fraud punishable by up to 20 years.
