Adani Group in Crisis, Bribery Charges Shake Business Empire
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Adani Group in Crisis, Bribery Charges Shake Business Empire
The Adani Group, one of India's largest conglomerates, has been thrust back into the spotlight after its billionaire founder, Gautam Adani, was accused by US prosecutors of involvement in a $250 million bribery scheme. The allegations have sent shockwaves through the company, with significant repercussions across its business operations and financial standing. A Storm Rekindled The indictment comes at a time when the Adani Group seemed to be recovering from the turbulence of last year. Following accusations of fraud and stock manipulation by Hindenburg Research in early 2023, the company had faced a major sell-off that slashed its market value significantly. However, after months of rebuilding investor trust, the bribery allegations have reignited concerns, leading to renewed scrutiny of the conglomerate's practices. In response to the charges, the Adani Group firmly denied the allegations, labeling them as baseless and without merit. Despite the company's efforts to dismiss …
