Gautam Adani agrees to $18 million SEC settlement (opens in new tab)

Indian billionaire Gautam Adani and his nephew Sagar Adani agreed to pay a combined $18 million to settle a U.S. Securities and Exchange Commission civil fraud case over allegations that they misled investors about an alleged bribery scheme linked to Indian solar-energy contracts, according to court filings and company disclosures. The proposed settlement, which requires court approval, calls for $6 million in civil penalties from Gautam Adani and $12 million from Sagar Adani, with neither ad...