The SEC (U.S. Securities and Exchange Commission) has halted the case against Indian billionaire Gautam Adani, who was accused of corruption and fraud. The regulatory p has dropped the charges against Mr. Adani, his nephew Sajjar Adani, and "Adani Green Energy" company. According to the terms of the agreement, they will pay a fine of $18 million - Gautam Adani $6 million, and Sagar Adani $12 million.
Modern.az reports that, according to "The New York Times", the U.S. Department of Justice and the Office of Foreign Assets Control, which are conducting separate investigations against Mr. Adani, plan to complete them soon.
The investigation against Gautam Adani, Asia's richest person with a fortune estimated at over $82 billion, began in November 2024. He was accused of fraud and corruption in connection with the activities of "Adani Green Energy", a company operating in the solar energy sector. Later, the Indian billionaire was also accused of violating sanctions against Iran.
However, the U.S. authorities are now ready to drop all these charges. NYT writes that this decision was made after Mr. Adani hired a new team of lawyers led by Robert Cuffron (Jr.), one of U.S. President Donald Trump's personal lawyers.
According to media reports, the Indian billionaire's lawyers promised to invest $10 billion in the U.S. economy during a meeting with representatives of the SEC and the U.S. Department of Justice.
Following news of the agreement, shares of "Adani Enterprises" rose by 1.8%, and shares of "Adani Green", which was at the center of bribery allegations, increased by 0.6%.
(FED.az)
