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,

Kenya’s president says he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia’s richest men.

Since the bribery indictment last week, Indian billionaire Gautam Adani's net worth has tumbled almost $16 billion to about $54 billion currently, according to Forbes real-time data. The group is also facing a backlash from investors and business partners.

SINGAPORE/SYDNEY, Nov 25 (Reuters) - Adani dollar bond prices fell to almost one-year lows on Monday as investors cut their exposure to the Indian conglomerate in the wake of bribery and fraud allegations from U.S. authorities.

Adani Green Energy Ltd (AGEL) refuted media claims of bribery charges against Chairman Gautam Adani, his nephew Sagar Adani, and executive Vneet Jaain under the US Foreign Corrupt Practices Act (FCPA).

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.