Gautam Adani and seven others have been charged by U.S. authorities for allegedly bribing Indian government officials to secure solar power contracts with state-run electricity distribution companies. According to the lawsuit, the Adani Group chairman, his nephew Sagar Adani, and six others allegedly paid bribes totaling ₹2,029 crore (approximately $265 million) between 2020 and 2024.
The individuals named in the case include Vineet Jain, a senior executive at Adani Group; Ranjit Gupta and Rupesh Agarwal, employees of Azure Power; and former employees of Canadian institutional investor CDPQ—Cyril Cabanes, Saurabh Agarwal, and Deepak Malhotra.
The Adani Group is also accused of concealing these bribes from U.S. banks and investors, from whom it raised billions of dollars to finance its solar energy projects. The prosecution alleges that the group sought to earn $2 billion in profits through these contracts.
The charges were brought by Breon Stacey Peace, the U.S. Attorney for the Eastern District of New York. Reports suggest that an arrest warrant has been issued for Gautam Adani in connection with this case.
This marks the third major controversy surrounding the Adani Group, following allegations of fraud by Hindenburg Research and investigative findings by the Organized Crime and Corruption Reporting Project (OCCRP). A common thread across these incidents is the involvement of organizations linked to billionaire philanthropist George Soros.
Soros, through his Open Society Foundations, has frequently been associated with political disruptions and regime changes. Critics have described him as an agent of chaos, citing his alleged disregard for democratic norms and his use of questionable methods to exert influence globally.
In the current case, Breon Peace’s allegations against Adani, including the claim that the group orchestrated an elaborate bribery scheme while misleading U.S. and international investors, have sparked speculation about his possible connection to Soros.
Soros-Breon Peace Connection
Breon Peace’s spouse, Jacqueline Jones-Peace, serves as the Director of Development and Senior Attorney at the Equal Justice Initiative (EJI), a nonprofit organization based in Montgomery, Alabama. EJI was founded by Bryan Stevenson, who also leads the organization as its Executive Director. Notably, Stevenson is a member of the U.S. Programs board of the Open Society Foundations, which is funded by billionaire philanthropist George Soros. This connection raises questions about the links between the Peace family and Soros, suggesting potential motivations for targeting the Adani Group.
Additionally, U.S. Senate Majority Leader Chuck Schumer, who has long-standing ties to Soros and his family, supported Breon Peace’s nomination for a judicial role and played a significant role in his appointment in 2021. Schumer has publicly aligned himself with several Soros-backed initiatives. Wealthy liberal donors, including Soros, have contributed significantly to Schumer-affiliated political causes.
Soros’ Democracy PAC II has been a notable source of financial support for Senate Democrats. On June 22, Soros donated $2.5 million to the Senate Majority PAC, bringing his contributions to the PAC to $6 million over the past three years. This includes donations of $3.5 million in 2022 and $2.5 million in 2021. In 2024 alone, Soros has contributed $16 million to the PAC, which underscores his influence on Democratic Party initiatives.
How Soros Targeted Adani Repeatedly
George Soros, along with his organizations and allied networks, has previously targeted the Adani Group, seemingly as part of a broader agenda to destabilize the Indian economy and undermine the Modi government. On February 16, 2023, Soros made a public statement leveraging the Adani-Hindenburg controversy to criticize the Indian government. “Modi and business tycoon Adani are close allies. Their fate is intertwined. Adani Enterprises tried to raise funds in the stock market, but it failed. Adani is accused of stock manipulation, and his stock collapsed like a house of cards,” he alleged.
Soros went on to accuse Prime Minister Narendra Modi of crony capitalism, asserting that Modi would eventually face questions from international investors and in parliament. He suggested that the Hindenburg Research report, which triggered a downturn in Indian markets, could lead to “much-needed institutional reforms” and a “democratic revival” in the country.
The Bharatiya Janata Party (BJP) also linked Soros to Hindenburg Research, accusing him of funding anti-India narratives. Ravi Shankar Prasad, a BJP leader, claimed on August 12 that Soros was a major investor in Hindenburg Research. He accused the Congress Party of aligning with Soros in a campaign against Modi, stating, “In their pathological hatred against Narendra Modi, the Congress Party today has developed hatred against India itself.”
Additionally, the Organized Crime and Corruption Reporting Project (OCCRP), which released a critical report on the Adani Group, is financially supported by Soros’ Open Society Foundations. The foundations provided at least $800,000 (₹6.61 crores) in funding to OCCRP, ostensibly to enhance its cross-border reporting capabilities. Critics argue that this aligns with Soros’ usual approach of influencing civil society and shaping public opinion to suit his agendas. Through organizations like Freedom House and the Varieties of Democracy (V-Dem) Institute, Soros has frequently been accused of attempting to tarnish India’s global image.
Anand Mangnale, OCCRP’s South Asia Editor, also has ties that raise questions. He previously worked as a partnerships and strategy consultant for NewsClick, a controversial media platform with reported financial links to China. NewsClick, which positions itself as a left-leaning outlet, has often faced scrutiny for its editorial stance and funding sources. Mangnale’s profile highlights his involvement in investigations into corporate fraud and government corruption, further fueling the debate around OCCRP’s motivations and affiliations.
Soros & His Alleged Role In Swaying US Elections
George Soros made headlines by acquiring a significant stake in Audacy, the second-largest radio company in the United States, just weeks before the presidential elections. This media giant operates over 220 radio stations nationwide and boasts a monthly audience of 165 million listeners. The timing of the purchase, combined with its implications, raised alarm among lawmakers and officials, including a Federal Communications Commission (FCC) commissioner appointed by former President Donald Trump.
U.S. law generally restricts foreign ownership in American radio stations to no more than 25%. Reports suggest Soros leveraged foreign investments to secure his bid for Audacy. Public filings reveal that his group petitioned the FCC to bypass the typical review process. Alarmingly, the FCC granted expedited approval for this deal, marking the first instance in modern history where such a transaction avoided the standard national security review process, which usually takes up to a year.
Concerns over the FCC’s handling of this matter were highlighted by Republican Congressman Chip Roy of Texas in April. Citing communications laws designed to limit foreign ownership of radio licenses, Roy questioned how Soros’ acquisition was approved so quickly. According to Roy, instead of following the traditional petition for a declaratory ruling—which would have allowed for a thorough review of foreign ownership interests—the Soros group requested a waiver to delay this process.
Roy raised the issue in a letter to the FCC, stating, “Instead of going through the usual petition for declaratory ruling process, which would enable the FCC to review and assess those foreign ownership interests as part of its transaction review, the Soros group has asked the FCC to waive that process and put it off until sometime down the road.” He further revealed that the foreign stakeholders involved in the deal were granted special warrants in the meantime.
The investment, reportedly amounting to nearly $400 million, added to concerns about Soros’ influence on U.S. media and its potential impact on the election process.
Soros-Linked Attorney Behind Donald Trump’s Indictment
The indictment of former President Donald Trump by a Manhattan grand jury last year prompted accusations from Trump and other prominent Republicans, including Florida Governor Ron DeSantis and former Secretary of State Mike Pompeo, of George Soros’ influence in the case. The investigation, led by Manhattan District Attorney Alvin Bragg, centered on allegations of hush money payments made during Trump’s 2016 presidential campaign to adult film star Stormy Daniels.
George Soros’ financial connections to Bragg became a focal point of criticism. In May 2021, Soros donated $1 million to the Color of Change PAC, a racial justice advocacy organization that heavily supported Bragg’s campaign. Additionally, Soros’ son, Jonathan Soros, and daughter, Jennifer Allan Soros, also contributed to Bragg’s election bid. State records reveal that Jonathan Soros donated $10,000 to Bragg’s campaign on April 26, 2021, followed by a $10,000 contribution from Jennifer Allan Soros on April 29, 2021. While others donated more significant sums directly, the Soros family’s involvement positioned them among Bragg’s key supporters.
Trump vehemently criticized the indictment and its implications, calling out Bragg as a “Soros-backed” figure. On his social media platform, Truth Social, Trump questioned why the case persisted despite what he described as a lack of evidence. He asserted, “Why won’t Bragg drop this case? Everybody says there is no crime here. I did nothing wrong.” Trump referred to Michael Cohen, his former attorney and a key figure in the case, as a “convicted nut job with zero credibility.”
Trump further lambasted the situation, likening it to authoritarian regimes, stating, “This is the Gestapo, this is Russia and China, but worse. Disgraceful!” In another post, he accused Bragg of carrying out a politically motivated agenda, claiming, “He is just carrying out the plans of the radical left lunatics. Our country is being destroyed.”
The former president also used the indictment to rally his supporters, sending a fundraising email that declared, “They’re coming for me,” and blamed district attorneys “hand-picked and personally funded by George Soros.”
It is worth noting that Trump’s political influence remained robust, as evidenced by his decisive victory in the recent U.S. elections, setting him up for a second term as president.
George Soros’ Hostility Toward Nationalist Leaders Including PM Modi
At the 2020 World Economic Forum in Davos, George Soros pledged support for initiatives aimed at addressing what he described as the erosion of civil society under the influence of “would-be and actual dictators” and the challenges of climate change. He openly criticized global leaders, claiming that nations like the United States, China, and Russia under Vladimir Putin were under the control of authoritarian figures. Soros went further to express concern about the growing prevalence of such leaders worldwide.
Singling out India, Soros described it as experiencing “the biggest and most frightening setback.” He accused Prime Minister Narendra Modi of transforming India into a “Hindu nationalist state,” imposing strict measures in Jammu and Kashmir and allegedly threatening the citizenship of millions of Muslims. His remarks reflected a long-standing animosity toward the Indian government, with Soros never shying away from expressing his opposition to PM Modi’s administration.
The Agenda Behind Soros’ Efforts
George Soros has a history of labeling nationalist governments as “authoritarian” and committing resources to counter them globally. Among his key targets, India and PM Modi’s administration stand out as the primary focus of his campaigns. Soros’ Open Society Foundations, which began operations in India in 1999 by offering fellowships and scholarships, have expanded their influence under the pretense of charitable work. However, they have also been linked to supporting groups critical of the Indian government.
Through networks comprising media outlets, non-governmental organizations (NGOs), and intellectual figures, Soros has made efforts to challenge India’s nationalist leadership. His activities suggest a deliberate strategy to undermine the government by fostering dissent and empowering organizations that oppose the administration’s policies.
One of Soros’ more recent tactics appears to involve targeting Indian corporations. The Adani Group, in particular, has faced repeated criticism, with Soros and his affiliates accused of orchestrating campaigns to tarnish its reputation. Such actions not only aim to destabilize the company but also threaten the broader fiscal health of the Indian economy.
Soros’ efforts to hinder India’s economic growth are seen as part of a broader attempt to discredit the Modi administration. By undermining India’s progress and creating economic turbulence, Soros seeks to weaken the current leadership and pave the way for a government more aligned with his ideological preferences.
(With inputs from OpIndia)