Gautam Adani, the billionaire behind the Carmichael coal mine, has been charged by US authorities over an alleged multi-billion-dollar fraud and bribery scheme. (SMH, The Australian, ABC, Reuters, BBC) 

Adani Group has lost $55 billion on the stock market since US prosecutors last week accused its founder and other officials of fraud. 

“There have been calls for an urgent review of Adani’s giant coal mine in central Queensland and intensified warnings for Australian superannuation investors holding shares in the company.” (SMH)

According to court documents, some of the defendants referred privately to Gautam Adani with the code names "Numero uno" and "the big man”. 

"Indian billionaire and business tycoon Gautam Adani's net worth dropped by more than $10 billion, almost 15 per cent, to $59.4 billion after a US court issued an arrest warrant on bribery allegations." (Deccan Herald) 

"Total Energies was not informed of a U.S. investigation into possible bribery and corruption at Adani Green, it said on Monday, adding it will stop financial contributions to its
Adani Group investments following last week's indictment.” (Reuters)

"Kenyan President William Ruto said on Thursday he had ordered the cancellation of a procurement process that had been expected to award control of the country's main airport to India's Adani Group after its founder was indicted in the United States.” (Reuters)

“...it is inevitable that Adani Green will need external financing. But every indication is that the era of easy money may be over for the company. And what’s true for Adani Green Energy is true for the rest of the #Adani group as well." (The Morning Context)

“Flagship Adani Enterprises Ltd.’s shares slumped 23%, their worst day in 21 months. Adani Green dropped 19%, and Adani Ports slid 14%. The slump erased almost $27 billion from the group’s market value."(Bloomberg)

Stay tuned for updates as this story continues to unfold.