Gautam Adani, the billionaire Chairperson of Adani Group, is likely to face a long road to trial in the United States over criminal charges over his alleged multi-billion-dollar fraud and bribery scheme, news agency Reuters reported on Wednesday, November 23.
Adani is also accused of conspiring to pay about $265 million in bribes to Indian government officials to obtain contracts and develop India's largest solar power plant project, according to the Reuters report.
The US Department of Justice and the securities market regulator SEC alleged that 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.
Gautam Adani is charged with alleged securities fraud, alleged securities fraud conspiracy and alleged wire fraud conspiracy.
The law in the United States allows prosecutors to charge executives with foreign bribery when their companies do business in the US and also gives broad jurisdiction over transactions that pass through US financial institutions.
The prosecutors also alleged that Adani deceived U.S. investors by covering up the alleged bribes.
According to the extradition treaty, if Adani is in India, US prosecutors must ask the Indian authorities to extradite him under the terms of the two countries, reported the agency.
The extradition process will be handled by a court in India, which will need to consider multiple factors, such as whether the crime charged in the US is a legible crime in India, whether or not the charges are politically motivated or whether he could face inhumane treatment in the US.
Adani can fight the extradition, but it is not clear how long that process may take in such a case. According to the agency report, accusations of bribing government officials can make the issue politically stressful.
Gautam Adani has not been arrested, and his whereabouts are unknown. The agency could not immediately reach out to him for a comment.
Adani Group has denied all the allegations and charges calling them “baseless” and said that the company is a “law-abiding organization, fully compliant with all laws.”
Until Adani appears in the US Court, Adani's lawyers can only challenge the indictment on procedural grounds, like claiming that US prosecutors do not have the authority to charge him.
After Adani's court appearance, his lawyers can attack the substance of the indictment by arguing the charges that are legally deficient or unsupported by the facts.
Prosecutors citing evidence of the alleged crimes quoted in the indictment, including in-person meetings with Indian officials and an extensive paper trail of cell phone and messaging app records. Adani could also strike a plea deal with prosecutors by agreeing to admit to certain crimes in exchange for a lighter sentence, though prosecutors are not obligated to negotiate. Any deal would also need to be approved by a judge, the report said.
If convicted of the alleged charges, Gautam Adani could face decades in prison. He could also face monetary penalties and any sentence, depending on the judge overseeing the case, reported the agency.
In the US, 12 12-person jury will need to vote unanimously to convict Adani, and he could appeal a verdict against him, as per the report.
Even if Adani is extradited or surrendered in the US, a trial could still be a long way off. His lawyers, as would lawyers for his seven co-defendants, who could seek separate trials, would be entitled to litigate the admissibility of evidence and other legal questions before a trial could begin.
Under US law, Adani is entitled to a speedy trial within 70 days, though he would likely waive that right to give his lawyers more time to fight the charges, reported the news agency.
