An Indian entrepreneur, noted as one of the wealthiest individuals globally, has been formally charged in the United States for allegedly misleading investors regarding a significant solar energy initiative in India. He is said to have concealed information that suggested the project’s success was facilitated by purported bribery.

Gautam Adani, aged 62, faces serious allegations outlined in an indictment that was made public on Wednesday. The charges include securities fraud as well as conspiracy to commit both securities and wire fraud.

According to the allegations, Adani misled numerous investors who collectively invested billions of dollars into the solar project by not disclosing that over $250 million had been secretly funneled as bribes to Indian officials. This concealment was allegedly aimed at securing advantageous contracts related to solar energy supplies.