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Indian billionaire industrialist Gautam Adani has agreed to pay a multi-million-dollar settlement in a US civil court case linked to corruption without admitting guilt, his company said on Friday.
The November 2024 indictment in New York accused the industrialist and multiple subordinates of deliberately misleading international investors as part of a vast bribery scheme.
Adani was accused of having participated in an estimated $250 million scheme to bribe Indian officials for lucrative solar energy supply contracts.
Adani, along with his nephew Sagar Adani, agreed to the “payment of a civil penalty” totalling $18 million, while noting that it came “without admitting or denying the allegations made in the civil complaint,” a letter from Adani Green Energy to the Mumbai stock exchange read.
