U.S. Government Settles Lawsuit with Adani Group Over Alleged Bribery Scheme

Adani Group SEC Lawsuit Bribery Allegations

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The U.S. government has settled a lawsuit against Indian billionaire Gautam Adani and his nephew Sagar Adani, alleging they concealed a bribery scheme to secure Indian government contracts for their solar energy project, violating U.S. securities laws.
The Adanis agreed to pay $18 million in civil penalties without admitting guilt, and related criminal charges are likely to be dropped following the suspension of the Foreign Corrupt Practices Act by President Trump.

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The U.S. government has settled a lawsuit against Indian billionaire Gautam Adani and his nephew Sagar Adani, alleging they concealed a bribery scheme to secure Indian government contracts for their solar energy project, violating U.S. securities laws. The Adanis agreed to pay $18 million in civil penalties without admitting guilt, and related criminal charges are likely to be dropped following the suspension of the Foreign Corrupt Practices Act by President Trump.

Read the full article on ABC News

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This article was originally published by ABC News.

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