“We’re confident in our partnership”: White House acknowledges Adani fraud charges, reaffirms US-India ties

The White House has acknowledged the criminal charges against Gautam Adani, chairman of the Adani Group, who has been indicted in New York for his alleged involvement in a multibillion-dollar bribery and fraud scheme. The US Attorney's Office for the Eastern District of New York recently unsealed charges against Adani, his nephew Sagar Adani, and several other executives of the Adani Group, linking them to an alleged bribery operation. These charges have brought significant legal scrutiny to the Adani Group, which is one of India's largest conglomerates.

White House Press Secretary Karine Jean-Pierre confirmed the administration’s awareness of the allegations, stating, “So, obviously, we’re aware of these allegations, and I would have to refer you to the SEC and DOJ about the specifics of those allegations.” The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are handling the legal proceedings. The charges against the Adani Group relate to claims of fraud and bribery, with accusations that the group’s executives engaged in corrupt practices to secure government contracts and manipulate financial results.

Despite the serious nature of the allegations, Jean-Pierre also emphasized that the relationship between the United States and India remains strong. "What I will say is on the US and India relationship, we believe that it stands on an extremely strong foundation anchored in ties between our people and cooperation across a full range of global issues," she stated. The US-India partnership covers a wide range of areas, including defense, technology, climate change, and trade.

The Adani Group has denied the allegations, calling them baseless. In an official statement, the group reaffirmed that the charges are still allegations and that the defendants are presumed innocent until proven guilty. "As stated by the US Department of Justice itself, 'The charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty,'" the spokesperson said. The group further noted that it would take all possible legal recourse to defend its position.

The charges against Gautam Adani and other executives of the Adani Group have significant implications, not only for the company but also for international business relations. The case has drawn attention from global regulatory bodies and could affect the group’s operations in markets outside India. The DOJ and SEC continue to lead the investigation, and legal processes are ongoing. The outcome of these proceedings could have a long-lasting impact on the Adani Group’s reputation and its dealings in the global market.