New York | Washington | Indian billionaire Gautam Adani has been charged by US federal prosecutors in connection with an alleged years-long scheme to bribe Indian officials in exchange for favourable terms on solar power contracts projected to bring in more than $US2 billion ($3 billion) in profit.

The 62-year-old tycoon, who chairs the multinational conglomerate Adani Group and has been a vocal supporter of Indian Prime Minister Narendra Modi, was indicted in New York on charges including securities fraud alongside seven others, including executives of Adani energy subsidiaries and former employees of a Canadian pension fund.

Financial Times