Gautam Adani nears US Probe closure after SEC Settlement
Gautam Adani is nearing resolution of multiple legal investigations in the United States after the US Securities and Exchange Commission (SEC) settled its civil case linked to disclosures tied to solar energy projects in India.
Court records show Gautam Adani agreed to pay USD 6 million, while his nephew Sagar Adani agreed to pay USD 12 million without admitting or denying wrongdoing.
The settlement comes as the US Department of Justice (DoJ) is reportedly preparing to drop criminal charges against the two businessmen after months of engagement between prosecutors and an expanded legal team led by Robert J Giuffra Jr.
The SEC and DoJ cases, filed in November 2024, alleged that the Adanis were involved in a USD 265 million bribery scheme linked to solar energy contracts in India and concealed the matter from US investors and banks during fundraising activities.
However, the Adani Group has consistently denied wrongdoing and maintained that it follows strong governance and compliance standards.
Reports suggest the expected dismissal of criminal charges could be issued “with prejudice”, preventing the case from being reopened. Legal experts had earlier questioned whether US authorities had sufficient jurisdiction to pursue the matter since the alleged conduct was largely centred in India.
Former SEC commissioner Laura Unger also criticised the prosecution approach, arguing that authorities attempted to fit bribery allegations into securities fraud charges without adequate jurisdiction under the Foreign Corrupt Practices Act.
Separately, a US Treasury Department investigation related to possible Iran sanctions violations involving LPG imports linked to the group is also nearing settlement through financial penalties without admissions of wrongdoing.
Despite the investigations, the Adani Group has continued expanding across infrastructure, ports, transport and energy sectors. The conglomerate has also continued attracting investments from global institutions, including BlackRock.
