Since the law was enacted nearly half a century ago, it has taken an average of three years to conclude a case under the US Foreign Corrupt Practices Act (FCPA) after an indictment, according to an analysis by Stanford Law School. The study, which is updated continuously, covers corruption investigations against 487 companies and 555 individuals.

A 1977 U.S. law prohibits bribery of foreign officials to obtain or retain business. It applies to any person or entity that is subject to US jurisdiction, including foreign companies that raise money in the US. Primarily, the US Department of Justice (DoJ) and the US Securities and Exchange Commission (SEC) are responsible for investigating suspected violations of the FCPA. Both agencies have filed charges against the Adanis.

Adani Group has termed the allegations against its founder Gautam Adani and his nephew Sagar as “baseless”, adding that it will explore all possible legal avenues.

According to a Stanford study, 93% of defendants facing charges under the FCPA chose to settle with the SEC rather than contest it in court. However, the settlement ratio with the DOJ was lower at 74%.

An indictment is the first step after completing an investigation, and authorities will need to present evidence of wrongdoing to press their case. In settlement cases, the accused agrees to pay a fine without pleading guilty.

Violators paid an estimated $11.6 billion in total bribes, while U.S. officials levied $31 billion in fines. The average fine was $58.3 million. Many also went to prison or were placed under house arrest, spending an average of 31 months in prison or under house arrest.

Adani’s indictment makes it India’s 26th case to be investigated under the FCPA, behind Brazil’s 34 and China’s 75, and on a par with Mexico.

On Wednesday, federal prosecutors in New York charged a total of eight people with paying more than $250 million in bribes to Indian government officials between 2020 and 2024 to secure lucrative solar power contracts.

According to the indictment, Adani Green Energy Ltd. raised $2 billion from U.S. and foreign investors based on false and misleading statements about the firm’s anti-corruption and anti-bribery efforts. For this reason, the DOJ opened a criminal investigation, while the Securities and Exchange Commission is conducting a civil investigation against Gautam Adani, his nephew Sagar Adani, and Adani Green Energy Chief Executive Vineet Jain.

In 2016, Cognizant Technology Solutions Corp., a New Jersey-headquartered information technology services company that counts two-thirds of its employees in India, bribed Indian officials to speed up the construction of its offices in India. was accused of giving

Cognizant paid about $28 million to the DoJ and the SEC, and its former chief operating officer, Gordon Coburn, was let go from the company. The case against Coburn is ongoing in the US courts.

Varun Sood contributed to the story.