The administration of US President Donald Trump has moved to dismiss criminal fraud charges against Indian billionaire Gautam Adani over allegations of bribery and misleading investors tied to a solar power project in India.
Adani had been accused of bribing Indian officials with up to $265 million to secure contracts and misleading US investors while raising funds for the project — allegations his company has consistently denied.
The US Department of Justice (DOJ) confirmed its decision to drop the case, stating that it had chosen not to devote further resources to the prosecution. However, the dismissal still requires approval from a US judge.
The case was originally filed during former President Joe Biden’s administration. Prosecutors alleged that Adani, alongside other executives, orchestrated a bribery scheme to secure solar energy contracts worth billions of dollars while concealing the alleged misconduct from investors.
According to prosecutors, Adani Green Energy secured contracts to build one of India’s largest solar power projects and raised over $3 billion from investors while allegedly misrepresenting its anti-corruption practices.
The move to dismiss the charges came after Adani reportedly pledged a $10 billion investment in the United States, expected to create about 15,000 jobs.
Recent reports also noted that Adani added prominent lawyer Robert J. Giuffra Jr., one of President Trump’s personal attorneys, to his legal team.
Separately, the US Treasury recently announced a $275 million settlement with Adani over alleged sanctions violations involving imports of liquefied petroleum gas (LPG) linked to Iran.
The US Securities and Exchange Commission (SEC) also reached a civil settlement with Adani over the alleged bribery case, which, if approved by the court, would require Gautam Adani and Sagar Adani to pay financial penalties.
