US Nears Up to $295 Million Adani Fraud Settlements, Ending Cases Pending Since 2024
Updated
Updated · Bloomberg · May 14
US Nears Up to $295 Million Adani Fraud Settlements, Ending Cases Pending Since 2024
13 articles · Updated · Bloomberg · May 14
$15 million to $20 million is under discussion to settle the SEC’s civil fraud case against Gautam Adani, with Adani himself expected to pay part of that amount.
About $275 million is also being negotiated in a separate Office of Foreign Assets Control probe involving the Adani conglomerate, pushing the total potential resolution near $295 million.
US authorities are moving to close out fraud matters that have hung over Asia’s richest person for more than a year, including a criminal case Bloomberg said was already headed for dismissal.
The underlying allegations date to November 2024, when US prosecutors and regulators accused Adani and associates in a roughly $250 million to $265 million bribery and fraud scheme tied to an Indian solar project.
Can a $10 billion U.S. investment pledge help dismiss federal fraud charges?
With legal hurdles clearing, what's next for Adani's $100 billion global expansion?