Gautam Adani wins dismissal of U.S. securities fraud charges
The U.S. alleged Adani was part of a scheme to pay more than $250 million in bribes to lock in solar energy contracts — allegations Adani consistently denied.
Gautam Adani secured the dismissal of U.S. securities fraud charges against him and his nephew Sagar Adani, effectively ending a high-profile case that could have hindered the growth of the Indian billionaire's expansive conglomerate. On Monday, U.S. District Judge Nicholas Garaufis in Brooklyn, New York, ruled to dismiss conspiracy, securities, and wire fraud charges brought against the Adani brothers.
The charges were initially filed in indictments in late 2024, during the final days of President Joe Biden's administration. The U.S. government alleged that Adani was involved in a scheme to pay over $250 million in bribes to Indian officials in exchange for securing solar energy contracts. Adani has persistently denied these allegations.
Judge Garaufis declared the charges "with prejudice," meaning the government is barred from reinitiating the case.
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