US prosecutors are moving to resolve and potentially dismiss criminal fraud and conspiracy charges against Indian billionaire Gautam Adani, according to multiple reports citing people familiar with the matter. US authorities asked a judge to dismiss the criminal case, which stems from allegations tied to a major solar-energy project in India. In 2024, Adani was accused of paying large bribes and misleading investors, with charges including conspiracy, securities fraud and wire fraud in connection with a commercial arrangement involving Adani Green Energy and another firm to sell solar power.
Separately, US civil proceedings associated with the same overall allegations continue to be resolved. Reports say the Securities and Exchange Commission is also moving to settle a parallel civil fraud case. Adani’s company has said it agreed to pay a civil penalty without admitting guilt or liability. One outlet reported a civil penalty of $18 million in the US civil case.
The timing of the criminal dismissal is described as imminent, with the Justice Department potentially announcing the drop as early as the current week. The reports also cite changes in Adani’s legal representation after he hired new lawyers led by Robert Giuffra.
