America's Justice Department and SEC have targeted India's Adani Group with a bribery case. Using Nationalistic sentiment doesn't help. Yes, law has been weaponized and India's sovereignty compromised but not how they think. A definitive guide to understanding the case.
There was a clear warning from Putin on provision of long range missiles that could hit deep into Russia to Ukraine. It would be consider as a direct attack by NATO on Russia. Biden has done just that!
While game-playing the future, one of the main flashpoints we came across, where the global conflict can start, was the Arctic. We look at it in complete detail.
America's Justice Department and SEC have targeted India's Adani Group with a bribery case. Using Nationalistic sentiment doesn't help. Yes, law has been weaponized and India's sovereignty compromised but not how they think. A definitive guide to understanding the case.
The Spanish Habsburg Empire ruled the 16th century. A colossus under Charles V and Philip II. Wealth flowed from the New World. With that new initiatives and projects took shape ambition and more ambition soared.
But power has a price.
Catholic orthodoxy was their weapon. Centralized control, their creed. Enemies, their harvest.
The Spanish Inquisition that unleashed a religious monster also inexplicably burned bridges.
Ultimately, Protestantism rebelled leading to the Dutch Revolt (1568–1648), creating a lasting rift with the Protestant world.
The Dutch Revolt raged for 80 years. A wound that never healed.
Spain’s attempt to crush England with the Spanish Armada in 1588 backfired spectacularly, weakening Spanish naval supremacy. A misstep with far-reaching echoes.
Reliance on New World silver and a series of bankruptcies due to overspending on wars devasted the economy. It crumbled.
The Thirty Years' War lit Europe's fuse. Spain sought to dominate. However, its aggressive policies united Protestant states such as Sweden, Denmark, and the Netherlands, with Catholic France joining the anti-Habsburg coalition for geopolitical reasons. The war culminated in the Treaty of Westphalia (1648), marking Spain’s decline as a great power and the rise of France.
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We are in a very different world today. We have an outgoing American administration that is using its powers - traditionally, lame-duck but potent if used/misused - to ignite a global conflict.
In response to the use of Ukraine's use of Western-supplied long-range missiles, specifically the U.S.-made Army Tactical Missile System (ATACMS) and the British Storm Shadow cruise missiles, against Russian targets, Russia recently launched the "Oreshnik," a hypersonic missile capable of Mach 11 speeds, targeting Ukraine's Dnipro region with advanced submunitions.
This marked a significant escalation in military capabilities, sparking global concerns. The EU has responded by placing member states on high alert, reinforcing air defenses and border surveillance.
Meanwhile, NATO convened an emergency meeting to assess the missile's threat and coordinate defense strategies. NATO Secretary-General Stoltenberg condemned Russia’s actions, highlighting their destabilizing impact. These events underscore growing tensions between Russia and the West, with heightened military and diplomatic responses aimed at managing this dangerous escalation.
This talk by Jeffrey Sachs - who is an American economist, public policy analyst, and professor known for his work on global economic development, sustainability, and public health - is very instructive in understanding the current global scenario.
The current US administration is on a reckless spree. It is fine with destroying the global geopolitical situation to a point of continuous conflict in order to undermine any chances of improvements that the incoming Trump administration may have.
The US and India have a relationship that has been constantly sabotaged. And that is precisely the card that the outgoing Biden administration may be playing to checkmate Trump's plan to upgrade relations between these two natural allies (who weren't). Something that should have happened all along but didn't.
Why didn't it happen? Because of the choices that the US made.
Here is Indian foreign minister Dr. Jaishankar explaining how the US administration constantly backed Pakistan, a military dictatorship while undermining India's sovereignty during the Cold War.
To get a much better understanding of how deep the sabotage was - please read this detailed account of how the US administration conspired to provide Pakistan with its nukes. It is a spectacular story of deception.
Desh Kapoor
Indian billionaire Gautam Adani faces serious charges. A five-count indictment was unsealed against him by the U.S. Attorney's Office for the Eastern District of New York. Seven other senior Adani Group executives are also implicated. The indictment was made public on November 20, 2024.
Two actions were taken. One by the Department of Justice or the DoJ. And the other by the US Securities and Exchange Commission (SEC).
This is the pdf for the charges by the Department of Justice. It was filed at the Clerk's office on Oct 24, 2024 - and unsealed in federal court in Brooklyn on November 20, 2024.
This criminal case charging the Adanis, along with former Adani Green CEO Vneet Jaain, and executives from Azure Power and Canadian pension fund CDPQ, with violating the Foreign Corruption Prevention Act (FCPA).
A five-count criminal indictment was unsealed today in federal court in Brooklyn charging Gautam S. Adani, Sagar R. Adani and Vneet S. Jaain, executives of an Indian renewable-energy company (the Indian Energy Company), with conspiracies to commit securities and wire fraud and substantive securities fraud for their roles in a multi-billion-dollar scheme to obtain funds from U.S. investors and global financial institutions on the basis of false and misleading statements. The indictment also charges Ranjit Gupta and Rupesh Agarwal, former executives of a renewable-energy company with securities that had traded on the New York Stock Exchange (the U.S. Issuer), and Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra, former employees of a Canadian institutional investor, with conspiracy to violate the Foreign Corrupt Practices Act in connection with a bribery scheme also perpetrated by Gautam S. Adani, Sagar R. Adani and Vneet S. Jaain, involving one of the world’s largest solar energy projects. Breon Peace, United States Attorney for the Eastern District of New York, Lisa H. Miller, Deputy Assistant Attorney General for the Justice Department’s Criminal Division and James E. Dennehy, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI) announced the charges. (Source: Department of Justice Press Release November 20, 2024)
In a separate but parallel action, the US Securities and Exchange Commission (SEC) has lodged a civil complaint against Gautam and Sagar Adani. The SEC accuses the Adani duo of making "false and misleading statements" to US investors to raise funds. Furthermore, the SEC alleges they directly bribed Indian officials to secure lucrative contracts benefiting Adani Green.
The PDF copy of the indictment can be seen here.
Some basics first -
Prosecuting Authorities:
Defendants:
There are three main charges:
What were the main allegations?
Between 2020 and 2024, the defendants allegedly conspired to pay over $250 million in bribes to Indian government officials to secure lucrative solar energy supply contracts.
These contracts were projected to generate more than $2 billion in profits over approximately 20 years.
The defendants are accused of making false and misleading statements to U.S. investors and lenders regarding the company's anti-bribery commitments and practices while raising over $3 billion through loans and bond offerings.
"Gautam and Sagar Adani were engaged in the bribery scheme during a September 2021 note offering by Adani Green that raised $750 million, including approximately $175 million from U.S. investors. The Adani Green offering materials included statements about its anti-corruption and anti-bribery efforts that were materially false or misleading," the U.S. Securities and Exchange Commission said. The Adanis earlier this year made misleading statements to the public, the Indian stock exchange and investors despite being made aware of the U.S. investigation in 2023, the prosecutors alleged. (Source: "Explainer-'The Corrupt Solar Project': US findings related to Adani's bribery charges" / Yahoo Finance)
The indictment alleges that Gautam Adani personally met with Indian officials to advance the bribery scheme and secure contracts.
So you see between the DOJ's criminal case and the SEC's civil case, a lot has been discussed and evidence filed that makes for a tough situation for Adani.
The case and its handling need serious handling and analyses.
Unfortunately, that is all missing in the Indian media. The reactions can be summed up in these three categories:
Let us take the X posts of two of the most prominent and well-respected (by me as well) analysts. Brahma Chellaney is an intelligence analyst and Kanwal Sibal is an ex-ambassador from India.
Take a look.
So, the main argument that Chellaney gives is about the quantum of the alleged bribes vs the money raised in the US.
Interestingly, someone as experienced as Brahma Chellaney shared such an irrelevant argument in view of the law's provisions.
And then, ex-Ambassador Kanwal Sibal also agreed with Mr. Chellaney.
Chellaney also discusses his views with India Today. That is worth listening to as well.
He repeats the point that the DOJ should have tried the case in the local Indian courts before indicting on the bribery charges. We will see whether that is a tenable argument or not in the section where we go into the FCPA rules.
Mr. Chellaney also talks about the involvement of the Chinese in all this. It could be conceivable that they may have nudged such an action, but the real motivations may have been primarily America's. For, it could be a three-way competition in Africa, specifically Kenya between the US, China, and India! In the subsequent analysis, we will see that such a competitive underpinning is a more plausible explanation.
Amongst the many points that Chellaney lays out in his argument, is the role that Adani Group is playing in not just upgrading India's infrastructure but also working with allies like Israel (Haifa port) to create strategic assets that will benefit Indian interests across the world.
That is important.
Because Adani is what is called in geopolitical literature - a National Champion Corporation for India. No other company or conglomerate has had that depth, breadth, or strength to take such a project up.
Desh Kapoor
That is what is at stake for India.
You try and attack or do electronic surveillance via hacking or otherwise on any of these companies and the entire might of those states will come down upon you.
What is most unfortunate is that Indian analysts and commentators talk in general terms and do not lay their arguments out in the largely acceptable geopolitical semantics that have substantive literature to back their narrative up. Because of that, these arguments look very amateur.
Now, let us go into the details of the FCPA - which is at the core of this indictment.
The Foreign Corrupt Practices Act (FCPA) applies to both U.S. and foreign companies that engage in corrupt practices involving foreign officials.
Here are its main provisions from the Department of Justice website.
You can see the framework for indicting companies that are listed on any US exchange for debt or equity and involved in bribery or "corrupt practices" is very tight.
And it's not just the Adani Group that has been charged under this act, many other global corporations have been too.
While the exact number of foreign companies charged under the FCPA isn't specified in publicly available data, enforcement actions have been taken against numerous foreign entities across various industries.
For instance, in 2024, the U.S. Securities and Exchange Commission (SEC) charged Bit Mining, a cryptocurrency mining company, with FCPA violations related to a bribery scheme aimed at influencing Japanese officials.
The SEC maintains a list of FCPA enforcement actions, including cases against domestic and foreign companies. However, this list does not provide a breakdown distinguishing between U.S. and foreign entities.
Here's a table summarizing select Foreign Corrupt Practices Act (FCPA) enforcement actions by the U.S. Securities and Exchange Commission (SEC) from 2023 to 2024.
That is quite a broad spectrum of companies that have been indicted for different crimes.
So to say that there is something off about this one particular case of Adani based on the allegations shared by the DOJ and SEC is just untenable.
The allegations and the consequent charges are in line with the law of the land in the US.
Another area that has been mentioned ad nauseum in the Indian media is the link that they have established between US Attorney who filed the charges with George Soros via Peace's wife.
George Soros funded US senator from New York Chuck Schumer.
— Mona Patel 🇮🇳🐅🌳 (@MonaPatelT) November 21, 2024
Chuck Schumer appointed Breon Peace as attorney of New York District court.
Yesterday same Breon Peace charged Adani in a fake case.
Soros is behind the case against Adani! pic.twitter.com/MYP9VyhD1P
Yes, that is a valid concern given Soros's threats and special interest in Adani and his fetish with removing and "weakening Modi" and his allies like "Adani" because their "fates are intertwined". For any self-respecting Indian, this 2-minute statement by George Soros is not just a reason for anger but disgust. As for the "revival of democracy" that Soros touts here, the less said the better. Its a regime change plan he is after and that needs to be defeated. Period.
But to just create a link between Breon Peace and Soros is lazy analysis.
The fact is that the US Attorney is part of a larger structure. A structure that in itself is compromised.
So to understand the corruption in the US judicial system, let us first understand the judicial structures.
The United States Attorney for the Eastern District of New York (EDNY) (a federal position within the U.S. Department of Justice) reports to the United States Department of Justice (DOJ) and, more specifically, to the Attorney General of the United States.
So, in this capacity, Breon Peace reports to the U.S. Attorney General, who, as of November 2024, is Merrick Garland.
Here is the organizational structure of the agencies within the DOJ.
When President Biden took over, the Fraud Section was transformed within the DOJ.
The DOJ had appointed two deputy chiefs within its Fraud Section, a move highlighted in an internal DOJ announcement obtained by The Wall Street Journal then.
The Fraud Section is one of the largest and most prominent teams of white-collar criminal prosecutors in the country, tasked with investigating a wide range of business crimes, including foreign bribery, healthcare fraud, securities fraud, and market manipulation.
These changes were strategic initiatives to enhance white-collar crime enforcement, reflecting a shift toward more integrated investigative practices.
One important point here is that these measures included embedding Federal Bureau of Investigation (FBI) agents directly within the DOJ's fraud section. This section is responsible for investigating complex cases, including foreign bribery, market manipulation, and healthcare fraud.
Traditionally, FBI agents and DOJ prosecutors collaborate from separate offices, coordinating efforts across locations.
Under the new framework, a dedicated team of FBI agents will work full-time alongside white-collar prosecutors within the DOJ’s fraud section, part of its criminal division. This change marks a significant investment in resources and expertise to strengthen case development and prosecution.
So you see how the DOJ and the FBI were brought together just for these crimes - foreign bribery, healthcare fraud, securities fraud, and market manipulation.
This was in October 2021. The work has been on since then.
These leadership changes followed the Senate confirmation in July 2021 of Kenneth Polite Jr., who was nominated by the Biden administration to serve as the Assistant Attorney General for the DOJ's Criminal Division. Polite's appointment reflects the administration's focus on bolstering the DOJ's capacity to combat complex financial and corporate crimes. (Source: Senator Dick Durbin)
Another change that happened was the elevation of Lisa Miller. She filed the Adani charges along with Breon Miller.
The U.S. Justice Department on Friday took steps to solidify the leadership ranks of its criminal division and fraud section under an assistant attorney general selected by President Biden, promoting several career prosecutors to serve in key positions overseeing the agency’s investigation of complex white-collar crimes. Lisa Miller will serve as acting deputy assistant attorney general for the criminal division, overseeing the fraud and appellate sections, a Justice Department spokesman said. Ms. Miller replaces Daniel Kahn, who left the department Wednesday to join the law firm Davis Polk & Wardwell LLP. (Source: Justice Department Firms Up Criminal Division Leadership Ranks / WSJ)
There is another important detail that we should be aware of.
Now, there is another "Attorney General" named Letitia James.
She, on the other hand, holds the position of Attorney General for the State of New York, overseeing state legal matters.
James took center stage during the suit against President Donald Trump.
Democratic megadonor George Soros gave $18,000 to New York Attorney General Letitia James in July. James, a Democrat, garnered national attention following her civil case against former President Donald Trump. In that case, Trump and top executives at the Trump Organization were accused of conspiring to increase his net worth by billions of dollars on financial statements provided to banks and insurers to make deals and secure loans. Judge Arthur Engoron, who oversaw the case, sided with James and ordered the former president to pay a $355 million penalty, plus interest, in February. Trump has appealed and maintains his innocence, accusing her of targeting him for political purposes. While that case has been key to James' tenure, she has also emphasized issues like protecting reproductive rights and gun safety laws since her first election in 2018. She has remained popular among Democrats, who support her work, but has been a top foe of Republicans, who feel her office unfairly targeted the former president. (Source: Letitia James Gets $18,000 From George Soros / Newsweek)
Now let us bring it all together for Adani's case.
Given all this, let us summarize a few things.
We have to fully understand one thing clearly.
The enforcement is based on U.S. jurisdictional reach, and the authorities focus on:
Evidence of bribery under the FCPA, irrespective of whether the foreign country investigates or prosecutes.
Violation of FCPA provisions such as anti-bribery or accounting provisions, with evidence gathered through cooperation with foreign authorities, whistleblowers, or internal investigations.
And, that is a very important distinction to be cognizant of. US authorities charge companies not based on the indictments in the foreign countries, but because of the power that the US executive vests in them to regulate the investments raised within the US.
Is it high-handed? Sure!
How can they do such blatant extra-territorial over-reach? Because they have the power and money.
You came asking for money from Americans, so the US executive uses that "need" to ensure they run you as per their rules.
Bottomline: collaboration with the local authorities is often pursued, particularly under Mutual Legal Assistance Treaties (MLATs), to gather evidence or enforce penalties, but such cooperation is not a legal prerequisite for U.S. enforcement. So, this approach underscores the extraterritorial reach of the FCPA, where the U.S. prosecutes offenses based on its laws and jurisdiction rather than relying on foreign judicial actions.
Does that mean everything about this case is 'above reproach' and outside the control of the Indian authorities?
No!
Read the statement below from the Department of Justice slowly and understand the full ramifications.
What does it really say?
That could have been gathered in only one of two ways:
You see, the FBI cannot legally cross international jurisdictions unilaterally to infiltrate local networks and gather forensics or evidence without proper authorization from the foreign country.
If they have to work on criminal investigations that go into international territory then that is handled via FBI's legal attache's in the respective embassies. These LEGATS as they are called - work with the local authorities to gather the evidence.
However, if the FBI were to infiltrate networks or gather evidence in a foreign country without approval, it would:
It is only in extreme cases involving imminent threats, such as counterterrorism or cybersecurity, that covert operations are taken up.
That is a very important and critical distinction. It is important to now ask the real question.
Do you see where the entire set of Indian commentators has all gone wrong?
Being nationalistic is a good thing but you cannot allow it to cloud your sane judgment. And, that is where the entire Indian narrative is wayward right now.
Now, let us get to understand the real situation in the US Judicial system and what actions from that part of the US administration led to the kind of mandate that Donald Trump got from the Americans.
First a word on the workings of the Grand Juries, which this trial has been fashioned into one.
In the United States, grand juries play a highly controversial role in the criminal justice system. Unlike trial juries, which determine guilt or innocence, grand juries decide whether there is enough evidence to bring criminal charges against an individual. This process, however, is almost entirely controlled by prosecutors, with no judge present to oversee the proceedings or ensure procedural fairness.
The prosecutor wields extraordinary influence over grand jury proceedings. Acting as the sole legal authority in the room, the prosecutor decides what evidence to present and how it is framed. Defense attorneys are not permitted to participate in grand jury sessions, exposing the jurors to a one-sided narrative. This lack of checks and balances has led to criticism that grand juries often serve as a rubber stamp for prosecutors. Former Chief Judge of New York, Sol Wachtler, famously remarked that a prosecutor could "indict a ham sandwich," underscoring how easily indictments can be obtained in this system.
In short, they are a setup.
Nothing shrieks as loudly as a grand jury about the extent of corruption that is prevalent in the US judicial system.
The combination of prosecutorial dominance, low evidentiary standards, and lack of adversarial checks has led many legal scholars and practitioners to question the fairness and efficacy of the grand jury system. Critics argue that it undermines the principle of justice by enabling overreach and abuse of prosecutorial discretion.
This is what Garland wants to use against Adani.
First, let us establish what the term Lawfare is.
Lawfare is the strategic use of legal systems and principles to achieve objectives traditionally sought through military means or to damage or delegitimize an opponent. This can involve exploiting legal frameworks to hinder an adversary's operations, impose financial burdens, or gain public relations advantages.
Orde Kittrie explains two forms that lawfare takes.
So lawfare is used in an external context - in lieu of kinetic military operation to bring down another state or it is used internally to damage or delegitimize your political opponent.
In Donald Trump's case, Joe Biden's Department of Justice has already been accused of and in some measure even established to have practiced lawfare internally.
To understand how corrupt the Department of Justice under the Biden administration is, this clip featuring Nicholas Biase, the DOJ Chief of Public Affairs is very instructive.
Here, Biase asserts that the indictments against Trump are a politically motivated "perversion of justice." He exposes the use of lawfare aimed at turning the former president into a "convicted felon," claiming the strategy has backfired on Democrats. Biase also criticizes his former colleague Alvin Bragg's case as "nonsense" and accuses him of "stacking charges."
Merrick Garland has defined the very basics of what lawfare really is. Here is a very interesting exchange between former Congressman Matt Gaetz and AG Merrick Garland.
BREAKING: Coordinated Lawfare Against President Trump EXPOSED!
— Former Congressman Matt Gaetz (@FmrRepMattGaetz) June 4, 2024
AG Merrick Garland says it’s a “dangerous conspiracy theory” to allege that the Department of Justice is communicating with state and local prosecutions against Trump.
But former senior DOJ official Matthew… pic.twitter.com/iYWpEqlM80
Jonathan Turley, Professor of Public Interest Law at the George Washing University School of Law shares his views on the corruption that Garland unleashed in DC as an operative of the Biden administration.
His enablement of attack on free speech by gagging Trump was a new low.
...Garland has allowed Special Counsel Jack Smith to maintain positions that seem diametrically at odds with past Justice Department policies. This includes Smith’s statement that he will try Trump up to (and even through) the next election. It also includes a sweeping gag order which would have eviscerated free speech protections by gagging Trump from criticizing the Justice Department. While Garland has said that he wants to give the special counsels their independence, it falls to him to protect the consistency and values of his department.....Garland now appears entirely adrift in his own department. While mouthing platitudes about being beyond politics, he continues to run interference for the Biden White House. He appears to be looking to close aides for such direction. (Source: The corruption of Attorney General Merrick Garland / The Hill)
Garland also has the distinction of becoming the third attorney general in US history to be held in contempt of Congress. (Source: BBC)
Of course, if you were to listen to him, you wouldn't know all that.
ABC News
Just as Garland weaponized the DOJ against Donald Trump, he did that against the favorite villain of the Democrats - Russia.
The sheer chutzpah of the indictment of Russian media RT is instructive.
Apparently, Russian content provider was sharing content with the US audiences with "hidden Russian government messaging".
OMG!! If that doesn't make opinions spooky enough, nothing will.
Read this statement from the DOJ and judge for yourself.
Let us now look at the Securities and Exchange Commission (SEC) under the Biden administration.
That is another cesspool of corruption.
As an overzealous activist, Gensler was almost single-handedly responsible for destroying the growth of crypto-currencies in the last few years.
Because of that, the SEC had become the favorite flogging horse of all the crypto companies who were suing it.
Gensler's aggressive stances also messed up his own staffers. He brought division in his department and corruption in rule-making.
And that brings us to the mandate for Trump this time around.
It was a mandate for many things - including lawfare and the managerial state that had corrupted every area of executive action.
This is something that people just don't get.
US government - under Biden - does not have the trust of the people and has lost its integrity. The election mandate for Trump is to take the corrupt structures that have been erected apart.
Kenyan President William Ruto has decisively canceled a high-profile deal that would have handed control of Kenya's main airport to India’s Adani Group, following the indictment of the conglomerate’s founder in the United States.
In his State of the Nation address on November 21, Ruto declared the termination of the $2 billion agreement, which had promised a second runway and an upgraded passenger terminal at Jomo Kenyatta International Airport in exchange for a 30-year lease.
But the pushback didn’t stop there. Ruto also scrapped a separate $736 million public-private partnership inked just last month with an Adani Group firm for the construction of power transmission lines.
Al Jazeera
Everyone in India, including as we heard Mr. Chellaney, states that Kenya's action and other ramifications benefit China.
Do they?
It is very interesting that on May 23, 2024, President Joe Biden hosted a state dinner at the White House in honor of Kenyan President William Ruto and First Lady Rachel Ruto. Approximately 500 guests attended the dinner.
This event marked the first state dinner for an African nation since 2008 and celebrated 60 years of diplomatic relations between the United States and Kenya.
Controversial figures such as Hunter Biden, Merrick Garland, Ilhan Omar, Alex Soros, Huma Abedin, and Albert Bourla were invited to the White House State Dinner on Thursday night, May 23, 2024. Hosted by President Joe Biden and First Lady Jill Biden, the event honored Kenyan President William Samoei Ruto and First Lady Rachel Ruto. The gathering, marking the first visit by an African president in over 15 years, highlighted the Biden administration’s renewed focus on engaging with Africa amid the growing influence of rivals like Russia and China. (Source: Hunter Biden, Merrick Garland, Ilhan Omar, Alex Soros, Huma Abedin, Albert Bourla, Other Controversial Figures Listed as Guests at Biden's State Dinner for Kenyan President / Today New Africa)
President Biden announced plans to designate Kenya as a major non-NATO ally, enhancing the security partnership between the two nations.
It is very clear that the US is trying to lead in Africa and supersede China. Whatever China has done, the US is trying to countermand that and take control. Kenya is a classic case of how the British would uproot Indian allies of important Indian kingdoms by simply granting audiences to the target kings and giving them some change to be happy with, lest their military might come knocking.
Same principle.
One of the most interesting discussions has been shared by researcher and senior journalist RN Bhaskar who says that this is America's way of blackmailing India.
Bhaskar backed his claims using two instances where he said that the US had "weaponised" international financial transactions during the Iran crisis and the other when Russian Foreign Minister Sergey Lavrov publicly admitted that the "US is in the business of blackmailing." (Source: ANI)
This is very instructive and correct in how not just financial transactions and the underlying system is weaponized (as we saw in Russian banks de-platforming situation) but even its internal judicial system is used as warfare across the world!
The impact on the world is deep.
In this case, for example, multiple dimensions are involved.
One, the Adani group is doing actual work to build the national infrastructure. Which is what the corrupt Biden administration is after.
That is the most important dimension.
There was an immediate reaction from the lawfare that the DOJ and SEC unleashed on the Adani group.
The Indian investors lost $26 billion.
The market capitalisation of Adani Group stocks plunged by Rs 2.24 lakh crore, equivalent to $26 billion, following accusations by US authorities against Gautam Adani, his companies and executives regarding bribery and fraud on Thursday. (Source: Times of India)
This was not the first setback that Adani has faced. Hindenburg, a "research" firm that short-sells shares has done two versions that were extremely amateur in its treatment.
Desh Kapoor
And, it hadn't even ended, when another attack was underway.
Then 18 months after the first Hindenburg Report, came the second one, where SEBI and its official was targeted.
Hindenburg had alleged that SEBI chief Madhabi Puri Buch was involved in siphoning funds. The report also notes that Buch owned two consulting firms, one in Singapore and one in India, while serving as SEBI chief. Also Buch and her husband held investments in offshore funds used by the Adani Group.
These allegations - unsubstantiated obviously - were denied by Buch. She said that all investments had been duly disclosed. Also, her husband runs an Indian firm and works with prominent clients. Further, 360 ONE WAM, the fund manager for the IPE-Plus Fund 1, clarified that the fund was fully compliant and regulated and that Buch and her husband's holdings in the fund were less than 1.5% of the total inflow. (Source: Hindenburg 2.0: What really is the controversy surrounding Sebi chief Madhabi Puri Buch & offshore funds / Business Today)
Now what may seem to be the targeting of one Indian corporation, was actually the targeting of the Indian financial infrastructure.
This chart shows how these attacks by Hindenburg and now the lawfare by DOJ had defrauded the Indian investors by billions!
If there is a reason for the government to take action this is it.
Frauds and financial destabilization by external actors for internal political and geopolitical purposes.
In the current case, this has gone to a point of hacking and infiltrating the communication networks within India.
All this happened on the back of a law - the FCPA - that is decidedly against international relations and norms with no quid pro quo from other states.
In fact, in a 2011 report, Jay Clayton, who was nominated by Trump to lead the Securities and Exchange Commission (SEC), criticized the FCPA. He argued that aggressive enforcement of the law caused "lasting harm" to U.S. companies by imposing significant compliance costs and potentially deterring international business ventures.
Also, in 2020 President Trump wanted to eliminate the FCPA because it held the American businesses back.
It is one thing to create a framework which impacts your domestic companies, but quite another to create an extra-territorial judicial framework that unilaterally goes after foreign companies by trying them for alleged crimes without any recourse using a sham "grand jury trial" process.
No company wants a situation where it is to be tried outside its jurisdiction for crimes that others conjure up and try just to settle a geopolitical score. Which is what Soros has clearly hinted at.
The same goes for the governments in those countries. Who wants to take on the risk of over-zealous, arrogant and high-handed establishments of the super-powers.
If enough companies and countries come together, they could seek alternative financial mechanisms.
The main tool that US has over other countries is the money that companies can raise in the US and the ease of doing so.
The question that most will have is - Can we get access to American money through a mechanism that is outside the jurisdiction of the FCPA?
American investors seeking opportunities in foreign equity and debt outside U.S. exchanges and the jurisdiction of regulations like the Foreign Corrupt Practices Act (FCPA) could have multiple pathways.
However, these avenues would obviously require careful navigation of legal, tax, and compliance obligations, as U.S. citizens and residents remain subject to domestic laws, including IRS reporting requirements.
Here are some key strategies that could be used and even streamlined by some financial players that currently do not allow ease of operations.
Direct investments in foreign markets involve opening accounts with foreign brokerage firms in regions like Hong Kong, Singapore, or Switzerland. These accounts provide access to local exchanges but may involve language barriers, higher fees, and stricter onboarding processes. Alternatively, investors can use international brokers to access global exchanges, such as the Shanghai Stock Exchange or the London Stock Exchange.
Global brokerage platforms like Interactive Brokers, Saxo Bank, and Swissquote allow U.S. investors to trade foreign equities and debt without routing through U.S. exchanges, offering a convenient gateway to global markets.
Offshore funds provide another option. Offshore mutual funds and ETFs domiciled in regions like the Cayman Islands or Luxembourg offer professional management and diversification. High-net-worth individuals can also explore private offshore investment vehicles, such as hedge funds or private equity funds in jurisdictions with favorable tax policies.
Private placements offer access to foreign startups and businesses, bypassing public exchanges. However, these investments are high-risk and often illiquid, demanding rigorous tax and reporting compliance.
Foreign debt instruments like Dim Sum bonds (Chinese RMB) or Eurobonds provide direct exposure to foreign credit markets. Investors may also consider structured financial products linked to the performance of these markets.
Emerging options include tokenized assets through blockchain platforms, which enable decentralized trading of foreign equities. Additionally, forming foreign partnerships or acquiring dual citizenship can simplify access to overseas financial systems.
These strategies reflect the growing opportunities and complexities of investing globally while navigating U.S. legal frameworks.
American investors can bypass U.S. stock exchanges and FCPA jurisdiction by using foreign brokers, offshore funds, or direct investments in foreign equity and debt. However, these options come with regulatory, tax, and logistical challenges.
Just like de-dollarization, we could see players and countries say in BRICS, come up with the idea of an alternative system to the US exchanges to raise money and avoid the risk of lawfare from the American administrative state.
Here are some ways this shift could be created.
Given how things are moving, it is possible that a future financial transformation could see a blockchain-based funding mechanism for companies around the world.
A crypto framework has the potential to disrupt the dominance of U.S. stock exchanges by offering a decentralized, global, and cost-effective alternative for trading equity and debt.
However, achieving this will require overcoming significant technical, regulatory, and adoption challenges.
In the long term, such a system could democratize access to capital markets and shift financial power away from traditional hubs like the U.S., heralding a new era of global finance.
There was a clear warning from Putin on provision of long range missiles that could hit deep into Russia to Ukraine. It would be consider as a direct attack by NATO on Russia. Biden has done just that!
The premise and the mindset apparent in the new Trump team points to an interesting world out there. Things will not be rosy, but they will be very different. Very, very different.
The US, and indeed the world has seen a watershed event of Donald Trump's victory. It will change the US direction and may have pushed a World War by at least 3-4 years.
Canadian Intelligence and political establishment have played Jekyll and Hyde games while using Khalistanis against India. The stories of omission and strategic misses are so spectacular that only collaboration can explain them.
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