Have a look at the family, wife and net worth of Sagar Adani
Due to their suspected involvement in a $265 million bribery scam, Indian billionaire Gautam Adani and his nephew Sagar Adani are the subjects of arrest warrants issued by the United States.
Gautam Adani, one of the richest persons in the world, and seven other defendants were charged with many counts of fraud, which caused shares and bonds of Adani companies to plummet on Thursday.
Who is Sagar Adani nephew of Gautam Adani, biography, age, family, father, wife, business, education and net worth
According to US federal authorities, the defendants consented to bribe Indian government officials in order to secure contracts that would generate $2 billion in profit over the course of 20 years and build India’s largest solar power plant project.
Additionally, they said that by concealing their wrongdoing from lenders and investors, the Adanis and another executive at the former CEO of Adani Green Energy secured over $3 billion in loans and bonds.
See how Gautam Adani’s nephew, Sagar Adani, who has also been indicted by US authorities, denies providing details about the investigation to the shareholders.
Taking everything for granted. pic.twitter.com/cUyUKX56Wu— Sumit Jha (@sumitjha__) November 21, 2024
The three were accused of conspiracy to commit securities fraud, conspiracy to commit securities fraud, and conspiracy to commit wire fraud. In a separate civil action brought by the US Securities and Exchange Commission (SEC), the Adanis were also charged.
As the executive director of Adani Green Energy Ltd (AGEL), a green energy company, Sagar Adani, the son of Rajesh Adani, has been with the Group for about ten years and seems to be in complete control of it.
Currently, he is the Executive Director of Adani Green Energy and a key member of the Adani Group.
Sagar Adani has been implicated in a USD 265 million bribery scheme along with other key members of the Adani group as part of a broader investigation by US authorities and in addition to this, the FBI agents in March 2023 served Sagar Adani with a search warrant and a grand jury subpoena, authorising the seizure of electronic devices for evidence.
While Sagar’s net worth isn’t known, Gautam Adani is worth $58.5 billion with Sagar set to be one of the people who inherit Gautam’s businesses. Sagar is currently single and unmarried.
The family chose to place him in the green energy vertical, where the business has set an ambitious objective of 50 GW of renewable energy by 2030, after he briefly worked under business CFO Robbie Singh. Nearly 11 GW of renewable capacity is now available.
#CourtCorner | Approx b/w 2020 & 2024, more than $250 m in bribes were promised by #AdaniGroup to Indian govt officials for solar energy contracts #GautamAdani personally met with an Indian govt official to advance the bribery scheme
‘Gautam, Sagar Adani & Vneet Jaain lied… pic.twitter.com/Gp74bybjX8
— CNBC-TV18 (@CNBCTV18Live) November 21, 2024
30-year-old Sagar Adani joined the Group around ten years ago after earning his degree in economics from Brown University in the United States. Sagar also frequently participates in the quarterly investor calls, where he speaks with high-level investors.
Maybe that’s why CEO Singh never has to step in and politically correct him when he’s speaking to the media. In a publicly traded company, he is fully aware of the boundaries where disclosing any price-sensitive information may put him in hot water.
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