US judge dismisses criminal case against Indian billionaire Gautam Adani
A US judge on Monday dismissed criminal charges against Indian billionaire Gautam Adani , after the Justice Department said it had decided to abandon the fraud and bribery case. Before approving a rare request by federal prosecutors to drop the case, US District Judge Nicholas Garaufis asked why they wanted to do so. Mr Garaufis also asked Mr Adani whether anything had been promised in exchange…
On July 4, US District Judge Nicholas Garaufis dismissed criminal charges against Indian billionaire Gautam Adani, following the Justice Department's decision to abandon the fraud and bribery case. US federal prosecutors had alleged that Adani and seven others, including his nephew Sagar Adani, had offered bribes exceeding $250 million to Indian officials to secure solar energy contracts generating $2 billion in profits over 20 years.
The case also involved concealing the plan while seeking US investor funds. Adani had promised to invest $10 billion in the US before charges surfaced. Adani Group consistently denied any wrongdoing. Before approving the dismissal, Garaufis questioned the Justice Department's motivations and requested information about any potential agreements.
In a subsequent filing, a Justice Department official stated the case was foreign, difficult to prove, and out of alignment with current priorities. Adani's lawyer denied any agreement exchange and noted the Adani Group's willingness to invest in the US would not be considered in any resolution. The US Treasury Department separately announced a $275 million settlement with Adani Enterprises over alleged Iran sanctions breaches.
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