New Delhi/New York: The United States Department of Justice is preparing to drop criminal charges against billionaire Gautam Adani and some associates in a high-profile fraud and bribery case, according to reports published in The New York Times (NYT).
“The reversal came after the Indian billionaire, Gautam Adani, hired a new legal team led by Robert J. Giuffra Jr., one of President Trump’s personal lawyers and the co-chairman of the prominent firm Sullivan & Cromwell,” states the NYT report
Earlier, the US authorities had charged Adani and other executives in November 2024 over allegations linked to a $265 million bribery scheme involving Indian officials to secure solar energy contracts. Prosecutors had also alleged that investors in the United States were misled while the Adani Group raised billions of dollars through loans and bond offerings.
According to the reports, Adani’s legal team argued before US officials that continuing the case could jeopardise the conglomerate’s planned investments in the United States. The Adani Group had reportedly proposed investing nearly $10 billion in the US economy and creating around 15,000 jobs.
The report also said the US Securities and Exchange Commission (SEC) had separately reached a civil settlement with Adani and his nephew Sagar Adani without any admission of wrongdoing. Under the settlement, the two agreed to pay civil penalties.
The Adani Group has consistently denied all allegations, calling the charges baseless. Amid such developments, Leader of Opposition in Lok Sabha, Rahul Gandhi on Friday slammed Prime Minister Narendra Modi. Calling Modi a ‘compromised PM’, the LoP, alleged that the recent India-US trade talks was aimed at securing relief for the businessman rather than bolstering trade ties.
