CNBC: Adani Group shares nosedive after chairman Gautam Adani charged with fraud in New York

CNBC reports:

India’s Adani Group saw shares of its companies plunge Thursday after its billionaire chairman Gautam Adani was indicted in a New York federal court over his alleged involvement in an extensive bribery and fraud operation.

The 62-year-old billionaire and the seven other defendants have been accused of paying over $250 million in bribes to Indian government officials to secure solar energy contracts that could generate more than $2 billion in profits.

The Indian group’s flagship firm Adani Enterprises fell 23%, while the company in the ...