U.S. Justice Department To Drop Criminal Case Against Gautam Adani

The U.S. Justice Department is close to dropping criminal fraud charges against Gautam Adani, according to sources familiar with the matter. The development follows the settlement of a related civil fraud case filed by the U.S. Securities and Exchange Commission (SEC) against Adani and his nephew, Sagar Adani, subject to court approval.

Court records showed the two agreed to pay civil penalties of USD 18 million without admitting or denying wrongdoing. The SEC case related to allegations that Adani Group executives misled investors and lenders in connection with an alleged bribery scheme tied to a solar power project in India. Sources said Adani’s lawyer Robert Giuffra argued before Justice Department officials that the case lacked jurisdiction and evidence. The alleged scheme had led to criminal charges in November 2024 involving claims of USD 265 million in bribes to Indian officials.