{"id":180772,"date":"2024-11-23T00:25:01","date_gmt":"2024-11-23T00:25:01","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/23\/adani-bribery-allegations-herere-the-encrypted-whatsapp-messages-of-accused-sagar-adani\/"},"modified":"2024-11-23T00:25:01","modified_gmt":"2024-11-23T00:25:01","slug":"adani-bribery-allegations-herere-the-encrypted-whatsapp-messages-of-accused-sagar-adani","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/23\/adani-bribery-allegations-herere-the-encrypted-whatsapp-messages-of-accused-sagar-adani\/","title":{"rendered":"Adani Bribery Allegations: Here’re the ‘encrypted’ WhatsApp messages of accused Sagar Adani"},"content":{"rendered":"
\"Adani<\/div>\n
US prosecutors have revealed explosive details of a bribery scheme allegedly orchestrated by Gautam Adani-led Adani Group<\/a>, including WhatsApp messages from Sagar Adani<\/a>, a millennial scion of the conglomerate. <\/p>\n

Sagar Adani<\/a> used his mobile phone to meticulously track hundreds of millions of dollars in alleged bribes to Indian officials\u2014notes prosecutors have dubbed \u201cbribe notes\u201d, reported Reuters, citing the court filings.<\/p>\n

In one of the encrypted WhatsApp message from 2020, Sagar Adani acknowledged the challenge of hiding the scheme, saying: \u201cYup\u2026but the optics are very difficult to cover.\u201d Yet the \u201coptics\u201d became impossible to manage on Wednesday, when US prosecutors indicted Sagar Adani, his uncle Gautam Adani\u2014one of the world\u2019s richest men\u2014and six others for fraud, reported Reuters. The charges allege a $265 million bribery scheme designed to secure power-supply deals that could generate $2 billion in profits over 20 years.<\/p>\n

Also Read: Gautam Adani’s biggest trial: How it all started in June 2020<\/a><\/p>\n

The US Securities and Exchange Commission (SEC) has filed a parallel civil case, while Adani Group has dismissed the allegations as \u201cbaseless\u201d and vowed to seek \u201call possible legal recourse.\u201d<\/p>\n


The Alleged Scheme<\/strong>
Court filings detail how Sagar Adani, 30, recorded key details of the scheme on his phone, including the size of the bribes, the recipients\u2014often identified by abbreviations\u2014and the expected returns in solar power contracts. In one example, prosecutors allege that in February 2021, Adani wrote about doubling incentives to win green power contracts in Jammu and Kashmir and Chhattisgarh.<\/p>\n

By July 2021, the notes suggest Sagar Adani offered bribes worth hundreds of thousands of dollars to government officials in Odisha to secure a 500-megawatt power deal. A month later, he and Gautam Adani<\/a> allegedly negotiated a $200 million bribe with officials in Andhra Pradesh, including the state\u2019s chief minister, to secure a massive 7,000-megawatt contract.<\/p>\n

Read More: Insider tracking: Who are the two “co-conspirators” in the Adani probe?<\/a><\/p>\n

Prosecutors also allege that Sagar Adani played a key role in recouping bribe money from business partners, including executives from Azure Power, a renewable energy company.<\/p>\n

Impact on the Adani Empire<\/strong>
This indictment marks the second major crisis in two years for the ports-to-power conglomerate, founded by 62-year-old Gautam Adani, who Forbes ranks as the world\u2019s 25th richest man. The fallout has been swift: billions of dollars were wiped off the group\u2019s market value, and Kenya\u2019s president canceled a major airport project with the company.<\/p>\n

Sagar Adani, an Ivy League-educated executive credited with building Adani Green Energy\u2019s solar and wind portfolio, faces mounting scrutiny. In a 2020 conversation with students, he reflected on business risks, saying, \u201cEvery single thing that you do in business, there is a risk associated with it.\u201d<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

US prosecutors have revealed explosive details of a bribery scheme allegedly orchestrated by Gautam Adani-led Adani Group, including WhatsApp messages from Sagar Adani, a millennial scion of the conglomerate. Sagar Adani used his mobile phone to meticulously track hundreds of millions of dollars in alleged bribes to Indian officials\u2014notes prosecutors have dubbed \u201cbribe notes\u201d, reported […]<\/p>\n","protected":false},"author":2,"featured_media":180773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-115551812,imgsize-25220.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[1220,1128,4362,141508,141545,61672,9283,141544,28866,109772,4360,22811,9319,36488,89439,141542,141543,3197],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/180772"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=180772"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/180772\/revisions"}],"predecessor-version":[{"id":180774,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/180772\/revisions\/180774"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/180773"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=180772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=180772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=180772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}