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What’s next for Adani after US bribery charges?

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Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, could face a long road to trial in the US on criminal charges over his alleged role in a multi-billion-dollar fraud and bribery scheme.

Reuters

Publisted at 8:18 AM, Sat Nov 23rd, 2024

Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, could face a long road to trial in the US on criminal charges over his alleged role in a multi-billion-dollar fraud and bribery scheme.

Here's a look at what's next for Adani.

WHAT IS HE CHARGED WITH?

The indictment alleges Adani and his co-defendants agreed to pay more than $250 million in bribes to Indian officials to obtain solar contracts worth an estimated $2 billion over 20 years.

Adani is charged with foreign bribery, securities fraud, securities fraud conspiracy and wire fraud conspiracy.

HAS ADANI BEEN ARRESTED?

No. If Adani is in India, US prosecutors would need to ask the Indian government to extradite him under the terms of the two countries' extradition treaty.

That process would be handled by a court in India, which would need to consider several factors including whether the crime he was charged with in the US is also a crime in India.

HAS ADANI ENTERED A PLEA YET?

No. Adani has not been arrested and his whereabouts are unknown, though he is believed to be in India. He could not immediately be reached for comment.

CAN ADANI DISPUTE THE CHARGES?

Yes, but until he appears in US court, Adani's lawyers could only challenge the indictment on procedural grounds, for example by claiming US prosecutors do not have the authority to charge him.

After Adani appears before a US judge, his lawyers could attack the substance of the indictment by arguing the charges are legally deficient or unsupported by the facts.

WHEN COULD A TRIAL HAPPEN?

A trial could still be a long way off even if Adani is extradited or surrenders in the US.

Adani's lawyers would be entitled to litigate the admissibility of evidence and other legal questions before a trial could begin, as would lawyers for his seven co-defendants, who could seek separate trials.

PENALTIES

If convicted, Adani could face decades in prison as well as monetary penalties, though any sentence would ultimately be up to the judge overseeing the case.

Adani faces up to five years in prison for foreign bribery and up to 20 for securities fraud, wire fraud, obstruction of justice and conspiracy charges. A jury of 12 would need to unanimously vote to convict Adani, and he could appeal a verdict against him.

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