US government agrees to settle lawsuit with one of the world's richest people
The U.S. government has agreed to settle a lawsuit against Indian billionaire Gautam Adani.
He and his nephew were accused of bribing officials to secure contracts for a solar project in India.
The Securities and Exchange Commission filed the lawsuit in late 2024.
It alleged the Adanis promised millions to Indian officials for inflated energy contracts, misleading Wall Street investors.
Gautam Adani agreed to pay $6 million in penalties, while his nephew will pay $12 million.
The settlement includes no admission of guilt.
Reports suggest criminal charges against them might be dropped following changes in U.S. law under President Donald Trump.
- US justice dept, SEC likely to drop cases against Adani: Reports Times Of India —
- US set to drop ‘corruption’ and ‘fraud’ charges against Gautam Adani The Indian Express —
- US moves to end fraud cases against Asia’s richest person, Gautam Adani South China Morning Post —
- FirstFT: The ‘Taiwan question’ looms over US-China relations Financial Times —
- US SEC settles civil lawsuit against Indian billionaire Adani subject to court approval - Reuters Reuters —