SEC seeks $18 million penalty against Gautam Adani and nephew Sagar
NewsBytes | May 15, 2026 4:39 PM CST
NY filing splits penalties, alleges bribery
Filed this week in New York, the SEC's proposed judgment splits the penalty: $6 million from Gautam and $12 million from Sagar.
US prosecutors say the Adanis and former AGEL CEO Vneet Jaain hid these alleged bribes while raising over $3 billion through bonds and loans.
Alongside criminal charges like securities fraud and conspiracy, there's also a separate civil fraud case, all part of a bigger investigation into financial misconduct at the Adani Group.
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