US President Donald Trump signed an executive order to prevent the 1977 Foreign Corrupt Conduct Act (FCPA) from implementing the 1977 Foreign Corrupt Conduct Act (FCPA) after assuming power. This law was used to start an investigation into bribery against Adani Group. According to PTI news, this US law prevents US companies and foreign firms from bribing officials of foreign governments to gain or maintain business.
Prosecution against Gautam Adani and his nephew Sagar
According to the news, the President directed the US Attorney General Palm Bandy to stop the enforcement of FCPA, which was at the center of some of the most high-profile cases of the US Department of Justice. It also includes prosecution against Indian billionaire and head of Adani Group Gautam Adani and his nephew Sagar. Let me tell you, last year, the then US President, Joe Biden -led government, was part of a plan to bribe Indian officials more than US $ 250 million (about Rs 2,100 crore) in lieu of favorable terms for solar energy agreements on Adani. Had accused
Will have to wait until six months’ review
Last year, the prosecutors, citing FCPA, alleged that this was hidden from American banks and investors, from whom Adani Group had raised billions of dollars for the project. This law allows to carry forward allegations of foreign corruption, if they include some links related to American investors or markets. The ban and reviews are being seen as a relief for the Adani Group, but it remains to be seen what the justice department takes after the six -month review period.
There will be review in 180 days
In this order of Trump, the Attorney General has been asked to review guidelines and policies controlling investigation and enforcement operations under FCPA in 180 days. The FCPA investigation and enforcement actions initiated after the revised guidelines or policies are released will be governed by such guidelines or policies and should be specially authorized by the Attorney General.
Adani group described the allegations as baseless
Last year, the Department of Justice accused a former executive of the renewable energy firm Ezor, who was at the center of the case accusing Adani of planning a bribery. The Department of Justice also brought a criminal prosecution. While the Adani group called the allegations baseless. Azure said that the former employees referred to in the allegations were different from him for more than a year. In addition, half a dozen US Congressmen have written a letter to the new Attorney General against the suspected decisions made by the US Department of Justice (DOJ), such as prosecution against Adani group in the alleged bribery scam, who threatens relations with close associate India Puts into
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