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Billionaire Gautam Adani and nephew agree to pay $18 million in SEC settlement over fraud allegations
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Billionaire Gautam Adani and nephew agree to pay $18 million in SEC settlement over fraud allegations

CNBC·Priyanka Salve·18 days ago
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Gautam Adani, chairman of Adani Group, during the inauguration ceremony for the Navi Mumbai International Airport in Navi Mumbai, India, on Wednesday, Oct. 8, 2025. Indranil Aditya | Bloomberg | Getty Images 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. Both men have consented to "entry of the final judgment without admitting or denying the allegations made in the civil complaint," and payment of penalties, Indian renewable energy firm Adani Green said in a filing to the Indian stock exchanges.…

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