Swiss Authorities Freeze $310 Million Amid Adani Group Money Laundering Allegations

Swiss authorities have frozen over $310 million linked to Adani Group in multiple Swiss bank accounts. This action is part of an investigation into allegations of money laundering. The Adani Group denies the claims, asserting it has no involvement in any Swiss court proceedings and condemning the allegations.

Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts, according to money laundering allegations against Adani Group, as reported by US-based short seller Hindenburg Research citing a media report.

Hindenburg's post on X stated that newly released Swiss criminal records reveal prosecutors have been investigating alleged wrongdoing by the Indian conglomerate since at least 2021. The Adani Group, however, vehemently denies any involvement in such proceedings and rejects the claims as baseless.

The Swiss media outlet Gotham City reported that the Geneva Public Prosecutor's Office and the Office of the Attorney General of Switzerland are investigating funds allegedly linked to an Adani frontman. The Adani Group maintains that it remains committed to legal transparency and compliance.

(With inputs from agencies.)