Indian billionaire Gautam Adani has been charged with fraud in the US, which has accused him of orchestrating a $250m (£198m) bribery scheme and concealing it to raise money in the US.

The criminal charges, filed on Wednesday in recent York, are the latest blow to 62-year-ancient Mr Adani, one of India’s richest men, whose business empire extends from ports and airports to renewable vigor.

In the indictment, prosecutors alleged the tycoon and other elder executives had agreed to the payments to Indian officials to triumph contracts for his renewable vigor business expected to gain more than $2bn in profits over 20 years.

The Adani throng did not immediately respond to a request for comment.

The conglomerate has been operating under a cloud in the US since 2023, when a high-profile business published a update accusing it of fraud. The claims, which Mr Adani denied, prompted a major trade sell-off.

Reports of this bribery probe have been circling for months. Prosecutors said the US started investigating the business in 2022, and found the inquiry obstructed.

They allege that executives raised $3bn in loans and bonds, including from US firms, on the backs of untrue and misleading statements related to the firm’s anti-bribery practices and policies, as well as reports of the bribery probe.

“As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and… lied about the bribery scheme as they sought to raise stake distribution from U.S. and international investors,” US Attorney Breon tranquility said in a statement announcing the charges.

“My office is committed to rooting out corruption in the international marketplace and protecting investors from those who seek to enrich themselves at the outlay of the integrity of our financial markets,” he added.

On several occasions Mr Adani met personally with government officials to advance the bribery scheme, officials said.

Mr Adani is a close friend of Indian Prime Minister Narendra Modi. He has long faced claims from opposition politicians alleging that he has benefited from his political ties, which he denies.

The US Attorney positions in the US are appointed by the president. The filing comes just weeks after Donald Trump won election to the White House, pledging to overhaul the US fairness Department.

Last week on social media, Mr Adani congratulated Trump on his election triumph and pledged to invest $10bn in the US.