US moves to end fraud cases against Asia’s richest person, Gautam Adani

Coverage Comparison

US federal prosecutors have asked a judge to dismiss criminal fraud and conspiracy charges against Indian billionaire Gautam Adani, Asia's richest person, according to multiple reports. The move comes more than a year after the Justice Department indicted Adani and several associates, accusing them of orchestrating a bribery scheme to secure solar power contracts in India.

Reports from the South China Morning Post, Al Jazeera, and The Hindu indicate that the Justice Department filed a request on Monday asking the court to drop all charges against Adani and his nephew Sagar Adani. The request states that prosecutors, "in their prosecutorial discretion," have decided not to devote further resources to the case. Judge Nicholas Garaufis must still approve the request, with the defendants' lawyers consenting.

The case originated in November 2024, when US authorities indicted Adani, his nephew Sagar, and six others on multiple counts of fraud, including securities fraud and wire fraud. Prosecutors alleged that the Adanis conspired to pay over $250 million in bribes to Indian government officials to secure contracts for a major solar power project, then concealed the scheme from US investors and lenders. The company denied the allegations, calling them baseless.

Key Claims

Dropping of criminal charges — As reported by three of the five sources, the US Department of Justice has moved to dismiss the criminal indictment against Gautam Adani and his nephew Sagar. The request, filed in the Eastern District of New York, cites prosecutorial discretion and awaits judicial approval.

Adani's $10 billion investment pledge — According to Al Jazeera and The Guardian, Adani's legal team, now led by Robert J. Giuffra Jr., Donald Trump's personal lawyer, presented a proposal in an April meeting at the Justice Department. The presentation reportedly included a pledge of $10 billion in investment and the creation of 15,000 US jobs. While prosecutors stated that the offer would not influence the outcome, the reports note it received a favorable response from one senior official.

Civil settlements — Multiple sources confirm that the Securities and Exchange Commission has settled its civil case against Adani and his nephew. Court filings show Gautam Adani agreed to pay $6 million and Sagar Adani $12 million, without admitting wrongdoing. Additionally, The Hindu reports that the Adani Group agreed to pay $275 million to settle allegations from the US Treasury's Office of Foreign Assets Control regarding sanctions violations on Iran-related LPG imports.

Original allegations — The indictment, filed when Joe Biden was president, accused Adani of bribing Indian officials with payments totaling up to $265 million to secure contracts for Adani Green Energy. The scheme allegedly involved misleading American and international investors while raising billions of dollars.

Perspectives

Prosecutorial discretion — The Justice Department's filing frames the dismissal as a routine exercise of prosecutorial judgment, asserting that the case no longer warrants further resources. This perspective is echoed by official statements from prosecutors.

Defense argument — Adani's legal team, per The Guardian's report, contends that prosecutors lacked evidence and jurisdiction over the case. The presentation by Giuffra reportedly included 100 slides outlining these deficiencies.

Political context — The Guardian highlights that Adani hired Trump's personal lawyer, suggesting a connection to the Trump administration's approach to foreign business practices. Al Jazeera notes the case originally arose under the Biden administration, and some Indian observers had long expected the case to be shelved following Trump's suspension of Foreign Corrupt Practices Act enforcement.

Corporate concerns — The South China Morning Post frames the resolution as a potential boon to the Adani Group, clearing the way for the conglomerate to return to international capital markets and resume aggressive expansion. The Hindu emphasizes the finality of the criminal dismissal and the closure of multiple regulatory investigations.

Crony capitalism claims — A single source, The Guardian, raises allegations of favoritism in Adani's relationship with Indian Prime Minister Narendra Modi. This claim is not independently verified and is not central to the case's resolution.