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US charges Indian billionaire with fraud

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Gautam Adani has been charged with fraud in the US, which has accused him of orchestrating a $250m (£198m) bribery scheme and concealing it to raise money in the US.

The criminal charges, filed on Wednesday in New York, are the latest blow to 62-year-old Mr Adani, one of India’s richest men, whose business empire extends from ports and airports to renewable energy.

In the indictment, prosecutors alleged the tycoon and other senior executives had agreed to the payments to Indian officials to win contracts for his renewable energy company expected to yield more than $2bn in profits over 20 years.

The Adani Group did not immediately respond to a request for comment.

The conglomerate has been operating under a cloud in the US since 2023, when a high-profile company published a report accusing it of fraud. The claims, which Mr Adani denied, prompted a major market sell-off.

Reports of this bribery probe have been circling for months. Prosecutors said the US started investigating the company in 2022, and found the inquiry obstructed.

They allege that executives raised $3bn in loans and bonds, including from US firms, on the backs of false and misleading statements related to the firm’s anti-bribery practices and policies, as well as reports of the bribery probe.

“As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and… lied about the bribery scheme as they sought to raise capital from U.S. and international investors,” US Attorney Breon Peace said in a statement announcing the charges.

“My office is committed to rooting out corruption in the international marketplace and protecting investors from those who seek to enrich themselves at the expense of the integrity of our financial markets,” he added.

On several occasions Mr Adani met personally with government officials to advance the bribery scheme, officials said.

Mr Adani is a close ally of Indian Prime Minister Narendra Modi. He has long faced claims from opposition politicians alleging that he has benefited from his political ties, which he denies.

The US Attorney positions in the US are appointed by the president. The filing comes just weeks after Donald Trump won election to the White House, pledging to overhaul the US Justice Department.

Last week on social media, Mr Adani congratulated Trump on his election win and pledged to invest $10bn in the US.

(BBC News)

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Injured Wanindu ruled out of Bangladesh T20I series

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Sri Lanka’s T20I captain Wanindu Hasaranga has been ruled out of the upcoming T20I series against Bangladesh after suffering a hamstring injury to his right leg.

The injury occurred while he was batting during the third and final ODI of the recently concluded series.

Following a medical evaluation, Hasaranga will return to Colombo to undergo rehabilitation at Sri Lanka Cricket’s High Performance Centre.

Sri Lanka Cricket has confirmed that no replacement will be added to the T20I squad in his absence.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

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Thushara Upuldeniya granted bail

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The Colombo Magistrate’s Court has granted bail to suspended Prisons Commissioner General Thushara Upuldeniya.

Upuldeniya was previously remanded over allegations of facilitating the unlawful release of an inmate from Anuradhapura Prison under the guise of a presidential amnesty.

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Wimal appears before CID

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National Freedom Front (NFF) leader and former MP Wimal Weerawansa appeared before the Criminal Investigation Department (CID) to provide a statement regarding remarks he made about a shipment of 323 containers linked to a provincial governor.

He was summoned to record a statement in connection with multiple complaints received over his comments made during a media briefing on January 29.

Following his remarks, Western Province Governor – Hanif Yusoof lodged a complaint with the CID on January 30, claiming he was targeted through social media posts.

Police said that several other parties have also filed complaints related to the same incident.

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