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Billionaire Gautam Adani and nephew agree to pay $18 million in SEC settlement over fraud allegations
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- Securities and Exchange Commission on Thursday sought court approval for a settlement in its civil lawsuit against Indian billionaire Gautam Adani and his nephew, Sagar Adani, over allegations they misled investors.
- Under the settlement, Gautam Adani will pay a $6 million penalty, while Sagar Adani will pay $12 million.
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The U.S. Securities and Exchange Commission on Thursday sought court approval for a settlement in its civil lawsuit against Indian billionaire Gautam Adani and his nephew, Sagar Adani, over allegations they misled investors.
Under the settlement, Gautam Adani will pay a $6 million penalty, while Sagar Adani will pay $12 million.
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