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.

Adani Group shares continued their upward momentum for a third consecutive day, with Adani Green Energy leading the gains at 14% in Friday morning trades. Adani Total Energy Solutions rose 12%, while Adani Total Gas and Adani Power gained 5% each.

Kenya has terminated two high-profile agreements with India’s Adani Group, intensifying scrutiny on the conglomerate, which is already reeling from allegations of bribery by US authorities.

Adani Green Energy said that contrary to media reports, its chairman Gautam Adani and his aides have not been charged for violating the U.S. Foreign Corrupt Practices Act.

Indian billionaire Gautam Adani has been indicted for fraud by U.S. prosecutors and arrest warrants issued for him and his nephew for their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals.