Adani to pay $18M in U.S. bribery case as charges reportedly drop
Adani to pay $18M in U.S. bribery case as charges reportedly drop
Gautam Adani agrees to an $18 million civil penalty in a U.S. case linked to bribery allegations, with prosecutors reportedly set to drop charges—no admission of guilt.
Gautam Adani and his nephew Sagar Adani have agreed to pay an $18 million civil penalty in a U.S. civil court matter tied to a corruption allegation, a settlement the company describes as without guilt admission.
The November 2024 indictment in New York accused the Adani group of participating in a roughly $250 million scheme to bribe Indian officials for lucrative solar energy contracts. The penalty, described in a letter to the Mumbai stock exchange, is part of a broader effort to resolve the civil complaint without admitting wrongdoing.
Prosecutors are reportedly set to drop charges in the matter, a development linked to the Adani’s hire of a new legal team led by Robert Giuffra. The group’s chair, known for a sprawling empire spanning coal, airports, cement and media, has faced waves of scrutiny in recent years over corporate governance and investor relations.
Adani Green Energy emphasized that the specific company in question is not a party to the proceeding and that no charges have been brought against it. In the market, Adani Group stocks climbed up to 3% on Friday as investors weighed the potential resolution of U.S. fraud allegations.
Meanwhile, a final judgment in the U.S. court remains pending, and the settlement does not erase lingering questions about governance and compliance across a global conglomerate. For investors and partners, the development may offer relief, but it also keeps the focus on how U.S. enforcement actions intersect with a sprawling international business empire.
