NEW DELHI/NEW YORK 19 May : The U.S. Department of Justice has permanently dropped all criminal charges against Indian tycoon Gautam Adani and his nephew Sagar, bringing high-profile securities and wire fraud case in New York to a complete close after prosecutors concluded they could not sustain the allegations.
With this, multiple US regulatory and legal investigations involving the group have all closed in the last couple of days.
Last week, the US Securities and Exchange Commission settled civil allegations against the two men tied to disclosures made to investors in connection with solar energy projects in India. Court filings showed Gautam Adani agreed to pay USD 6 million and Sagar Adani USD 12 million, without admitting or denying wrongdoing. ( PTI )
