Key facts
- A U.S. judge dismissed criminal charges against Indian billionaire Gautam Adani.
- The Justice Department dropped its fraud and bribery case against Adani.
- The case involved allegations of bribery and misleading U.S. investors.
- Adani had pledged a $10 billion investment in the U.S.
- Adani denied any agreement to exchange investment for the dismissal of charges.
A U.S. judge has dismissed criminal charges against Indian billionaire Gautam Adani, concluding a bribery and fraud case. U.S. District Judge Nicholas Garaufis approved the Justice Department's request to drop the charges, citing the case's foreign jurisdiction and difficulty in prosecution. However, the judge strongly criticized the process, noting that a senior Justice Department official had worked with Adani's lawyers on the dismissal without consulting the investigators and prosecutors involved in the case. Adani, who has consistently denied wrongdoing, welcomed the court's decision. The case involved allegations that Adani paid bribes for renewable energy projects and misled U.S. investors. Adani had previously pledged to invest $10 billion in the U.S., a move his lawyers had mentioned during discussions with the Justice Department, though Adani denied it was an exchange for dropping the charges. Judge Garaufis ultimately concluded the investment did not influence the department's decision but expressed concern about perceptions of equal justice. The charges were dismissed with prejudice, meaning they cannot be refiled. Separately, Adani and his nephew settled SEC allegations for $6 million and $12 million respectively, and Adani Enterprises agreed to pay $275 million to settle potential civil liability over U.S. sanctions violations.