Relief to Adani? Trump pauses anti-bribery law
US President Donald Trump signed an executive order directing the Department of Justice (DoJ) to pause enforcing a nearly half-century-old law that was used to launch a bribery investigation against the Adani Group.
Six US Congressmen write to new AG
Six US Congressmen have written to the newly appointed Attorney General of the US against “questionable” decisions made by the US Department of Justice such as the indictment against the Adani Group in an alleged bribery scam, which “jeopardises the relationship with close ally India”.
Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
The President directed US Attorney General Pam Bondi to pause enforcement of FCPA, which was at the heart of some of the US Department of Justice’s most high-profile cases, including indictment against Indian billionaire and Adani Group head Gautam Adani and his nephew Sagar.
Last year, DoJ under then President Joe Biden charged Adani for allegedly being part of a scheme to pay over $250 million (about Rs 2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts.
This was concealed from the US banks and investors from whom the Adani group raised billions of dollars for the project, the prosecutors had alleged last year citing FCPA that allows pursuing foreign corruption allegations if they involve certain links to American investors or markets.
The pause and the review is being seen as a relief to the Adani Group, but it remains to be seen what stand the DoJ takes after the six-month review period.
