Gautam Adani, chairman of the Indian conglomerate Adani Group and one of the world's richest men, is currently indicted in a multi-billion dollar fraud and bribery scandal in the United States. He is accused of securing the country's largest solar power project by bribing Indian government officials. He may face a long wait for trial in the United States.
All the complaints against Adani
According to the indictment, Adani and the other accused planned to pay more than $250 million in bribes to Indian officials so that they could get contracts for solar power projects worth about $2 billion over 20 years.
The charges brought against Adani include:
– Paying foreign bribes
-Securities fraud
-Conspiracy to commit securities fraud
– Conspiracy to commit wire fraud
Under US law, if a company does business in the US and their operations are conducted through US financial institutions, the executives involved can be charged with foreign bribery.
The complaint also alleged that Adani tried to hide bribes to mislead US investors.
Adani has been arrested?
no If Adani remains in India, US prosecutors would have to request the Indian government to extradite him. According to the extradition treaty between the two countries, the process will be conducted in Indian courts. The court must look at:
-Whether the charges brought against him in the US constitute a crime in India
-Whether the allegations are politically motivated or not
-Whether he faces inhumane treatment in the United States
Adani can fight extradition and the process can take a long time. He is accused of bribing Indian officials, which could further complicate the process politically.
Has Adani filed any reply?
no Adani is yet to be arrested and there is no confirmed information on his whereabouts. He is believed to be in India.
The Adani Group in a statement on Thursday termed the allegations as 'baseless' and said the company is 'fully law-abiding and abides by all laws'.
Can Adani contest the allegations in court?
yes But until he appears in a US court, his lawyers can only oppose the indictment on procedural grounds.
When Adani appears in a US court, his lawyers will be able to challenge the accuracy of the allegations. For example: Adani's lawyers may question whether the allegations are legal or sufficiently supported by evidence.
Prosecutors are often at an advantage in the early stages, and judges are generally reluctant to dismiss cases.
The indictment states that there is evidence of the crime, such as: personal meetings with Indian officials and documents on mobile phones and messaging apps.
If Adani pleads guilty, he can compromise with prosecutors to reduce the sentence. But that would depend on the will of prosecutors, and the deal would need court approval to take effect.
Adani trial period how?
If Adani is extradited or surrenders to the United States, the trial could still take a long time.
Adani's lawyers can litigate the admissibility of evidence and other legal issues. His seven co-accused may apply for a separate trial.
While there is a right to a speedy trial (within 70 days) under US law, Adani is unlikely to exercise this right to give its lawyers enough time to prepare the case.
What kind of punishment can Adani face?
If convicted, Adani could face decades in prison and fines. In addition,
-Maximum 5 years imprisonment for foreign bribery
-Up to 20 years in prison for securities fraud, wire fraud and conspiracy
Apart from this, 12 members of the jury board must unanimously find Adani guilty. But if Adani is found guilty, he can appeal the verdict.
