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US Ends Criminal Fraud Case Against Gautam Adani
(MENAFN) The US Justice Department announced Monday that it is dropping its criminal fraud case against Indian businessman Gautam Adani, according to reports describing the move as part of broader efforts by the Trump administration to settle several ongoing legal and commercial matters involving the billionaire.
The decision also follows reports that Adani had planned investments worth approximately $10 billion in projects across the United States prior to his 2024 indictment.
“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 a filing seeking permanent dismissal of the case.
As part of related agreements, the Treasury Department’s Office of Foreign Assets Control stated that Adani Enterprises, a key company within the Adani Group, would pay $275 million to resolve an investigation tied to alleged violations of sanctions involving Iran.
Separately, the Securities and Exchange Commission said last week that it had reached settlements with Gautam Adani and his nephew Sagar Adani regarding connected civil allegations. The total settlement amount was reported at $18 million.
According to reports, neither Gautam Adani nor Sagar Adani admitted wrongdoing under the terms of the agreements. The settlements, along with the dismissal of the criminal charges, still require judicial approval.
Gautam Adani leads the Adani Group, a major conglomerate with business interests in sectors including infrastructure, logistics, and energy, alongside growing commercial links with the United States.
Reports also said the resolution aligns with broader policy shifts under the Trump administration, which has reportedly moved away from several enforcement actions initiated under the previous administration. Recent months have also seen US authorities drop certain foreign bribery prosecutions and end legal actions involving cryptocurrency firms such as Binance and Coinbase.
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