{"id":44073,"date":"2026-04-07T19:08:14","date_gmt":"2026-04-07T19:08:14","guid":{"rendered":"https:\/\/foreignnewstoday.com\/?p=44073"},"modified":"2026-04-07T19:08:14","modified_gmt":"2026-04-07T19:08:14","slug":"indian-billionaire-gautam-adani-will-seek-to-dismiss-fraud-case-in-us","status":"publish","type":"post","link":"https:\/\/foreignnewstoday.com\/?p=44073","title":{"rendered":"Indian billionaire Gautam Adani will seek to dismiss fraud case in US"},"content":{"rendered":"<p><br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/i.dawn.com\/large\/2026\/04\/072306230c0bbf0.webp\" \/><\/p>\n<p>Gautam Adani, India\u2019s second richest person, will ask a US judge to dismiss the Securities and Exchange Commission\u2019s (SEC) civil fraud case stemming from an alleged bribery scheme, his lawyers said on Tuesday.<\/p>\n<p>Adani and his nephew Sagar Adani were <a href=\"https:\/\/www.dawn.com\/news\/1873837\">charged<\/a> by the SEC in November 2024 with orchestrating a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy, where both men are executives and directors.<\/p>\n<p>The securities fraud case is tied to Adani Green\u2019s alleged failure to disclose the scheme in documents for a $750 million bond offering in 2021.<\/p>\n<p>In a filing in the Brooklyn, New York federal court, the Adanis\u2019 lawyers said their clients disputed that there was any credible evidence supporting the alleged bribery scheme.<\/p>\n<p>The lawyers said the Adanis\u2019 lack of involvement in the offering, and the absence of any intent to defraud or negligence, supported a dismissal.<\/p>\n<p>They also called the SEC claims \u201cimpermissibly extraterritorial,\u201d reflecting how the Adanis and all alleged misconduct were in India, and the bonds were never traded on a US exchange.<\/p>\n<p>The SEC had no immediate comment.<\/p>\n<p>Lawyers for the Adanis said they will formally seek a dismissal by April 30.<\/p>\n<p>US prosecutors filed a related criminal case in November 2024 against the Adanis and several other defendants. There have been no public developments in that case since December 2024. A spokesman for the US Attorney\u2019s office in Brooklyn declined to comment.<\/p>\n<p>Gautam Adani, 63, founded and chairs the conglomerate Adani Group, and is chairman of Adani Green.<\/p>\n<p>He is worth about $60.6 billion, ranking 30th worldwide according to <em>Forbes<\/em> magazine.<\/p>\n<p>Mukesh Ambani, chairman of the conglomerate Reliance Industries, is India\u2019s richest person, worth about $91.4bn and ranking 20th worldwide, <em>Forbes<\/em> said.<\/p>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.dawn.com\/news\/1989557\/indian-billionaire-gautam-adani-will-seek-to-dismiss-fraud-case-in-us\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gautam Adani, India\u2019s second richest person, will ask a US judge to dismiss the Securities and Exchange Commission\u2019s (SEC) civil fraud case stemming from an alleged&hellip;<\/p>\n","protected":false},"author":1,"featured_media":44074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-44073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertaonment"],"_links":{"self":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/44073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44073"}],"version-history":[{"count":0,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/44073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/media\/44074"}],"wp:attachment":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}