Adani brothers settle US SEC fraud charges for $18 mn, lifting overhang on retail and infra arms
Gautam and Sagar Adani agreed to pay $18 million combined to settle SEC civil fraud charges tied to a $750 million bond offering, without admitting wrongdoing. DOJ is signaling it may drop parallel criminal bribery charges, easing a multi-year legal cloud over the group's retail, ports and energy units and clearing a path for fresh capex and capital raises.
Gautam and Sagar Adani agreed to pay $18 million combined to settle SEC civil fraud charges over a $750 million bond offering, without admitting wrongdoing. DOJ may drop parallel criminal charges, removing a legal overhang for Adani's retail and infrastructure arms.