Some nations and investors have either scrapped deals or halted investments in the Adani Group, after the United States indicted its billionaire chairman Gautam Adani for alleged bribery and fraud to win contracts for a group company,

Adani, 62, one of Asia’s richest men, was thrust into the spotlight last week when U.S. prosecutors in New York charged him and seven of his associates with securities fraud.

Adani Enterprises Ltd and Wilmar International Ltd are reportedly postponing a planned sale of at least 12% in their joint Indian food venture, Adani Wilmar Ltd, in light of a US bribery indictment involving Gautam Adani,

French oil major TotalEnergies halted on Monday investments into Adani Group, after the Indian ports-to-power conglomerate was engulfed in a crisis over an alleged multi-million-dollar bribery scheme.

U.S. prosecutors allege that Gautam Adani, the second most-wealthy Indian man, personally met with Indian government officials to further their "bribery scheme."

Adani has been charged by U.S. federal prosecutors with defrauding investors for a solar energy project in India.

Following U.S. bribery charges against Gautam Adani, several nations and investors have paused or scrapped deals with the Adani Group. TotalEnergies halted investments, and the U.S. International Development Finance Corp is reviewing a $550 million Sri Lanka port project.