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Adani Settles SEC Civil Fraud Claims for $18 Million

Gautam Adani and his nephew Sagar Adani have agreed to settle civil fraud allegations brought by U.S. regulators. Combined penalties total $18 million, with Gautam Adani paying $6 million and Sagar Adani paying $12 million. The settlement resolves claims that the two men misled investors in connection with alleged bribery tied to Indian solar contracts. Both executives have consented to the settlement without admitting or denying the allegations. The Justice Department is expected to drop related criminal charges against Gautam Adani and others indicted in November 2024. Adani Green Energy said the company itself is not part of the proceedings and faces no charges. Adani Enterprises shares rose 1.8% and Adani Green added 0.6% following news of the settlement.