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ECONOMY

US SEC Settles Adani Civil Lawsuit Subject to Approval

The SEC settled its civil case against Gautam Adani, pending court approval. Criminal charges may be dropped as Adani pledges $10B investment.

Benjamin Moore
ByBenjamin Moore- Senior Editor
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US SEC Settles Adani Civil Lawsuit Subject to Approval
Photo: Prepared by Bond.az

WASHINGTON, May 14 - The U.S. Securities and Exchange Commission (SEC) on Thursday settled a civil lawsuit against Indian billionaire Gautam Adani, subject to court approval, court records showed.

The Justice Department is close to dropping related criminal fraud charges against Adani, who has promised to invest $10 billion in the U.S. economy, according to two sources familiar with the matter.

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US SEC Settles Adani Civil Lawsuit Subject to Approval | Bond.az