NEW YORK — Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme, US prosecutors said on Wednesday (Nov 20).

Authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about US$265 million (S$356 million) in bribes to Indian government officials to obtain contracts expected to yield US$2 billion of profit over 20 years, and develop India's largest solar power plant project.

Prosecutors also said the Adanis and another executive at Adani Green Energy, former CEO Vneet Jaain, raised more than US$3 billion in loans and bonds by hiding their corruption from lenders and investors.

According to an indictment, some conspirators referred privately to Gautam Adani with the code names "Numero uno" and "the big man," while Sagar Adani allegedly used his cellphone to track specifics about the bribes.

Adani Group did not immediately respond to requests for comment outside business hours in India, where the charges were announced early Thursday morning.

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