SEC settles lawsuit against Indian billionaire Adani
Key takeaways
- The US government will settle a lawsuit filed against Gautam Adani, one of the world's richest people, for hiding an alleged bribery scheme.
- International media reported that the Department of Justice was also close to dropping related criminal charges of fraud against Adani.
- Court documents show that Gautam Adani agreed to pay civil penalties of $6 million (€5.2 million), while his nephew Sagar Adani, another leader at Adani Green Energy, agreed to pay $12 million.
Why this matters: an international story with cross-border implications worth tracking.
The US government will settle a lawsuit filed against Gautam Adani, one of the world's richest people, for hiding an alleged bribery scheme. It's just one of the cases Adani faces in US courts.
https://p.dw.com/p/5Dm8x Adani hails from the state home state as Indian Prime Minister Narendra Modi and is considered his close ally Image: Aijaz Rahi/AP Photo/picture alliance Advertisement The United States Securities and Exchange Commission (SEC) settled a civil lawsuit against Indian billionaire Gautam Adani for bribing Indian officials and lying to US investors, according to court documents published Thursday. The settlement is subject to court approval.
International media reported that the Department of Justice was also close to dropping related criminal charges of fraud against Adani.