SEC says Adani brothers misled investors in 2021 bond sale
The US Securities and Exchange Commission is going after Gautam and Sagar Adani, saying they misled investors during Adani Green Energy's big 2021 bond sale.
The company raised $750 million, including more than $175 million from US investors, while claiming to follow anti-bribery rules, but the SEC says those claims weren't true.
Adani brothers consent to bribery judgments
Gautam and Sagar Adani consented to final judgments that, if approved by the court, would require them to pay $6 million and $12 million in penalties (without admitting or denying anything) and promised not to break US laws again.
The SEC also accuses them of running a bribery scheme to win energy contracts at inflated prices, all while telling investors everything was above board.
The case is still waiting for court approval, but it's a reminder that transparency really matters when raising money globally.