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Trump has signed more than 80 executive orders after assuming office on 20 January.
US President Donald Trump has suspended the Law Foreign Corrupt Practices Act (FCPA), which is under the category of crime to pay bribe to trade abroad. Trump signed the executive order and banned the law nearly 50 years old.
According to Reuters, Trump has directed to create guidelines to review the decisions given under the Attorney General Palm Bandy. Trump has ordered the US Justice Department that,
The Department of Justice stops prosecuting Americans who are accused of bribing foreign officials to win or maintain trade in other countries.
Indian businessman Gautam Adani has been booked in the US under this law, in which he is accused of planning to bribe Indian officials. Trump took this decision 2 days before PM Modi’s visit to America.
PM Modi is going to reach America on 12 February.
Adani accused of fraud of Arabs
Last year, 8 people, including industrialist Gautam Adani in the US, were accused of fraud of billions of rupees. According to the charge sheet, Adani’s company misrepresented the renewable energy projects in India. For this, it was planned to bribe government officials $ 250 million, or about Rs 2,029 crore.
Apart from this, the accused collected money by lying to American investors and banks. The entire case was related to Adani Group’s company Adani Green Energy Limited and another firm. On 24 October 2024, the case was registered in the Federal Court of New York. Read the allegations here in details …
What is FCPA Act
The Foreign Corrupt Practices Act (FCPA) was implemented by the US in 1977. Under this, companies registered in the US were banned from bribing foreign officials for trade and second objective.
Signing on the order related to this law in the Oval Office of the White House on Monday, Trump said, said, ” “This decision will bring new business opportunities for America.”
Trump also expressed his desire to abolish this law in his first term. Describing it as a terrible law, he said, because of this law, the world is laughing at us.
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Read this news related to the case filed on Adani …
Today’s Excellener: If bribe is given in India, then why action in America; Everything that is necessary to know everything on the Adani case
On 15 March 2024, a news related to Gautam Adani’s American investigation appeared in Bloomberg. Then rejecting this, Adani Group said in a statement- we are not aware of any investigation against our chairman. The matter was buried there. Read full news here …