The US Department of Justice has sought to drop criminal charges against Indian billionaire Gautam Adani, Bloomberg reported on Monday. The move marks a dramatic reversal in one of the highest-profile cases brought against the Adani Group in the US.
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The development by US prosecutors follows a separate step by the US Securities and Exchange Commission to settle a related civil fraud case with Adani. Both cases were initiated during the final months of the Biden administration.
“The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants,” US prosecutors said in a court filing cited by the report.
The US Attorney’s Office for the Eastern District of New York had alleged in 2024 that Adani and other defendants were involved in a $250 million bribery scheme linked to solar-power contracts in India.
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According to prosecutors, Adani and others promised bribes to Indian government officials to secure solar energy contracts and later concealed the arrangement while raising funds from US investors.
The allegations triggered global attention because of the Adani Group’s expanding international footprint and its fundraising activities in global markets.
The Adani Group consistently denied the accusations.
None of the defendants, including Gautam Adani, had appeared before a US court in connection with the charges, and Bloomberg reported that the case had effectively stalled.
