Tycoon Adani charged by US over alleged $250 million bribe plot

US prosecutors have charged Indian tycoon Gautam Adani and several associates with orchestrating a $250 million bribery scheme to secure solar energy contracts in India.

The charges accuse them of paying bribes to Indian government officials, concealing the plan while raising funds from US investors.

Adani’s nephew, Sagar Adani, and Vneet S. Jaain, executives at an Indian renewable-energy company, are also implicated. The scheme allegedly involved Adani Green Energy Ltd., aiming to develop India’s largest solar power plant.

The charges could destabilize the Adani Group, which had recently recovered from allegations of stock manipulation by short-seller Hindenburg Research.

Adani's fortune stands at $85.5 billion, but the charges add to the conglomerate’s legal troubles.