By Blessing Nweke
The U.S. Justice Department said Monday it will drop criminal fraud charges against Indian billionaire Gautam Adani, marking a major reversal in a high-profile international bribery and securities fraud case.
In a filing submitted to a federal court in Brooklyn, New York, the Trump administration requested that the indictment against Adani and other defendants be permanently dismissed. The Justice Department said it had reviewed the matter and decided not to devote further prosecutorial resources to the case.
The request was signed by Principal Associate Deputy Attorney General Trent McCotter and Brooklyn U.S. Attorney Joseph Nocella, though it did not include signatures from prosecutors previously assigned to the case.
Adani, founder and chairman of the Adani Group, had been charged in November 2024 alongside several others in connection with an alleged $250 million bribery scheme involving Indian government officials. Prosecutors claimed the payments were intended to secure approvals for a massive solar energy project through Adani Green Energy, a subsidiary of the conglomerate.
Authorities alleged the contracts could have generated roughly $2 billion in profits over two decades. Prosecutors also accused the defendants of misleading U.S. and international investors to obtain financing.
The Ahmedabad-based company denied the allegations when the charges were first announced, describing them as baseless.
Adani, who is considered a close ally of Indian Prime Minister Narendra Modi, was never arrested or extradited to the United States.
Separately, the Securities and Exchange Commission recently announced that Adani and his nephew, Sagar Adani, agreed to pay $18 million to settle a related civil fraud case without admitting wrongdoing. The Treasury Department also disclosed a $275 million settlement with Adani Enterprises over alleged sanctions violations tied to Iran.
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