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Fri, 15 May 2026

Fri, 15 May 2026 India's Adanis agree to pay $18m to settle civil fraud case in the US

The US securities regulator had accused the Adanis of paying bribes and misleading investors, which they denied.

* Gautam Adani and his nephew Sagar Adani agreed to pay $18m combined in penalties to settle a US SEC lawsuit.
* The civil fraud lawsuit alleged bribes were paid to Indian officials for renewable energy projects and US investors were misled about anti-bribery practices.
* The deal is subject to court approval but market reaction was positive, with Adani Group shares rising.
* The agreement bars the Adanis from future violations of key US anti-fraud laws without admitting or denying wrongdoing.
* The SEC had accused the Adanis of raising $750m while allegedly misleading investors about Adani Green Energy's compliance.
* Gautam Adani is one of the world's richest people, worth $82bn according to Forbes.
* The US Department of Justice reportedly dropped criminal fraud charges against Gautam Adani after his new lawyers met with officials.
* The decision was seen as part of a broader move away from prosecuting foreign bribery cases under the Trump administration.