Gautam Adani, indicted in US, is a controversial first-generation Indian tycoon [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
Asia's second-richest person, who narrowly escaped death in 2008 as one of many people stuck inside Mumbai's Taj Mahal Palace Hotel when gunmen went on a killing spree, faces a U.S. arrest warrant and criminal penalties over the fraud and bribery charges. Adani's businesses, ranging from power and ports to sugar and soybeans, lost more than $150 billion in combined market value last year after U.S.-based short seller Hindenburg Research accused his eponymous group of using offshore tax havens improperly. The group, which recouped some of the losses and now has a combined valuation of $141 billion, denied all of the allegations. Before shares in Adani Group companies tanked last year, the 62-year-old high school dropout had briefly become the world's wealthiest person after Tesla CEO Elon Musk. Adani is now the 25th richest person with a net worth of about $57.6 billion, according to Forbes. While the group's coal and power projects and other deals have been questioned in countr
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