Since the bribery indictment last week, Indian billionaire Gautam Adani's net worth has tumbled almost $16 billion to about $54 billion currently, according to Forbes real-time data. The group is also facing a backlash from investors and business partners.

Gautam Adani, 62, along with the seven other defendants were accused of paying about $265 million in bribes to Indian government officials.

Gautam Adani, one of the world's richest people, is accused of concealing that a solar energy project was being facilitated by an alleged $265 million bribery scheme.

Energy-to-ports billionaire Gautam Adani’s net worth took a hammering as shares of his listed companies plummeted after U.S. prosecutors accused him of orchestrating a $250 million bribery scheme.

Adani has been charged by U.S. federal prosecutors with defrauding investors for a solar energy project in India.

This account of how the alleged scheme unfolded is drawn from federal prosecutors' 54-page criminal indictment of Adani and seven of his associates and two parallel civil SEC complaints.