Gautam Adani Seeks Dismissal of US SEC Fraud Case, Citing Lack of Jurisdiction
Indian billionaire Gautam Adani is seeking to dismiss a civil fraud case brought by the U.S. Securities and Exchange Commission, arguing the court lacks personal jurisdiction and citing overreach in the alleged bribery scheme.
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Indian billionaire Gautam Adani will seek to dismiss fraud case in US
Gautam Adani, India’s second richest person, will ask a US judge to dismiss the Securities and Exchange Commission’s (SEC) civil fraud case stemming from an alleged bribery scheme, his lawyers said on Tuesday. Adani and his nephew Sagar Adani were charged 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. The securit...
By none@none.com (Reuters)
Read full article →Gautam Adani Seeks Dismissal Of Lawsuit By US Markets Regulator, Cites Overreach
Adanis argued that the court lacks personal jurisdiction, saying neither had sufficient contacts with US or direct involvement in the bond offering.
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