Gautam Adani to Settle With SEC, Nears End of US Legal Woes

Gautam Adani is on the cusp of ending a series of legal threats in the US, paving the way for Asia’s richest man to ramp up investment and capital raising after months battling allegations including fraud and bribery.

Adani and his nephew Sagar agreed to pay a total of $18 million to settle Securities and Exchange Commission allegations they made false and misleading representations about Adani Green Energy Ltd, according to a proposed agreement filed in federal court Thursday.