May 17, 2026, 3:11 PM

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

Billionaire Gautam Adani and his nephew Sagar Adani have agreed to pay a combined $18 million to settle civil fraud allegations brought by the U.S. Securities and Exchange Commission (SEC). The proposed settlement, filed in federal court on Thursday, aims to resolve claims that the Adanis made false and misleading representations concerning Adani Green Energy Ltd.

The settlement includes a $6 million payment from Gautam Adani and $12 million from Sagar Adani. This agreement marks a step toward concluding legal challenges in the United States for the Adani Group chairman. The SEC had accused the Adanis of misleading U.S. investors about anti-bribery practices while attempting to raise funds through a bond offering.

According to reports, the regulator's 2024 lawsuit alleged that the Adanis raised $750 million, with approximately $175 million coming from U.S. investors. These funds were allegedly secured while Adani Green Energy's compliance with anti-bribery laws was misrepresented. The proposed deal would bar the individuals from future violations of securities laws.

Separately, reports indicated that the U.S. Department of Justice was moving to drop criminal fraud charges against Gautam Adani. The BBC has reached out to the U.S. Department of Justice and the Adani Group for comment.

The settlement is subject to court approval. This resolution could allow Gautam Adani to focus on expanding investments and capital raising efforts.

Sources