The United States Department of Justice has moved to dismiss criminal fraud charges against Indian billionaire Gautam Adani, one of the world's wealthiest individuals, following a pledge by the tycoon to invest $10 billion in the United States. A federal judge must still approve the request, but the decision effectively ends a high-profile prosecution that had rattled Adani's sprawling business empire since 2024.
Adani, whose estimated net worth stands at around $108 billion, was indicted in federal court in Brooklyn on charges of conspiracy, securities fraud and wire fraud. Prosecutors alleged that he and co-defendants — including his nephew Sagar Adani — orchestrated a scheme to pay as much as $265 million in bribes to Indian government officials to secure contracts for Adani Green Energy to supply 12 gigawatts of solar power to the Indian government, enough to light millions of homes and businesses. While doing so, they allegedly misled US and international investors about the company's anti-corruption practices, raising more than $3 billion in the process. The Adani Group consistently denied the allegations, calling them baseless.
The case was originally filed under the administration of former President Joe Biden. Its dismissal under President Donald Trump follows several notable developments: Adani recently appointed to his legal team Robert Giuffra, who is also one of Trump's personal attorneys, and who announced the $10 billion investment pledge — expected to create around 15,000 US jobs. Adani himself indicated he had wanted to invest in the United States but could not do so while the legal proceedings continued. The move also comes after Trump suspended enforcement of the Foreign Corrupt Practices Act, a US law prohibiting overseas business bribes, a step that had led many observers in India to expect the case would eventually be shelved.
The criminal charges are not the only legal matters being resolved. The US Securities and Exchange Commission reached a civil settlement with Adani last week, under which Gautam Adani and Sagar Adani would pay civil penalties of $6 million and $12 million respectively, pending court approval. Separately, the US Treasury Department announced a $275 million settlement with Adani over alleged sanctions violations related to purchases of liquefied petroleum gas that had originated in Iran. As part of that agreement, Adani Enterprises has ceased LPG imports into India and created a compliance oversight role.
The affair has had wide-ranging consequences beyond the courtroom. Following the original 2024 indictment, Kenya cancelled multimillion-dollar airport and energy deals with Adani, Sri Lanka sought to renegotiate wind energy contracts, and a major French energy company paused new investments with the group. Critics have long pointed to Adani's close relationship with Prime Minister Narendra Modi's government as a source of his rapid ascent, accusing him of benefiting from crony capitalism — allegations the group has firmly rejected. The dropping of charges will likely be seen as a significant rehabilitation for a conglomerate whose interests span coal, renewable energy, ports, defence and agriculture.