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U.S. Treasury announces $275M settlement with India's Adani Enterprises
The settlement comes in a civil lawsuit against Adani over an alleged scheme to bribe Indian government officials.
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Reuters - Mon, 18, May 2026
- 12:19 EDT
- 35
Adani group / IANS File Photo
The U.S. government said on May 18 India's Adani Enterprises agreed to pay $275 million to settle alleged sanctions violations involving Iran, as the Trump administration moved to resolve several cases involving Indian billionaire Gautam Adani.
The U.S. Treasury Department said Adani Enterprises had bought shipments of liquefied petroleum gas from a Dubai-based trader purporting to supply Omani and Iraqi gas that had actually originated from Iran. Adani is the company's founder and chairman.
Also Read: U.S. authorities move to drop case against Adani Group chief
The U.S. Securities and Exchange Commission separately settled a civil lawsuit against Adani over an alleged scheme to bribe Indian government officials, court records showed last week, although the move is subject to court approval.
The Justice Department is also close to dropping related criminal fraud charges against Adani, who has promised to invest $10 billion in the U.S. economy, according to two sources familiar with the matter.
U.S. prosecutors had charged Adani for allegedly agreeing to pay $265 million in bribes to Indian government officials so his company could win approval to develop India's largest solar power plant.
Adani and his alleged co-conspirators raised more than $3 billion in loans and bonds by hiding their corruption from lenders and investors, prosecutors said. The Adani Group, a conglomerate that includes Adani Enterprises, has consistently denied any wrongdoing.
Adani, a close ally of Indian Prime Minister Narendra Modi, is one of the world's richest people, with an estimated worth of $82 billion, according to Forbes magazine.
Discover more at New India Abroad.
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