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US Justice Department Abandon Fraud Case Against Gautam Adani
(MENAFN) The US Justice Department has decided to withdraw its criminal fraud case against Indian billionaire Gautam Adani, according to reports, as part of a broader shift under the Trump administration aimed at resolving outstanding legal and business disputes linked to him.
The decision comes after reports that Adani had previously planned to channel around $10 billion into US-based projects prior to the filing of the 2024 indictment.
In its filing seeking dismissal, prosecutors stated: “The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants,” prosecutors wrote in their motion to permanently dismiss the charges.
Separately, the US Treasury Department’s Office of Foreign Assets Control reached a settlement involving Adani Enterprises, requiring the company to pay $275 million to resolve allegations related to violations of Iran sanctions, according to reports.
In another development, the US Securities and Exchange Commission also confirmed a settlement agreement last week with Adani and his nephew Sagar Adani, closing civil proceedings tied to the same broader investigation for a total of $18 million, according to reports.
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