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US drops criminal fraud charges against Adani
The US Department of Justice has dismissed criminal fraud allegations against Indian billionaire Gautam Adani and several executives from his conglomerate, Adani Enterprises. The decision follows a separate settlement in which the firm agreed to pay $275 million to resolve sanctions violations linked to Iran.
Background of the case
In 2024, US prosecutors filed charges accusing Adani, his nephew Sagar Adani, and other company officials of bribing Indian officials to secure renewable energy contracts and misleading American investors. Adani and his firm consistently denied the allegations.
On Monday, Adani Green Energy disclosed in a regulatory filing that the Justice Department had requested the dismissal of all charges. A US District Court in New York subsequently issued an order to close the case.
Settlement details and sanctions violations
Adani Enterprises agreed to pay $275 million to the US Treasury's Office of Foreign Assets Control (OFAC) to settle allegations that it violated Iran sanctions. According to OFAC, the company purchased liquified petroleum gas (LPG) from a Dubai-based trader between November 2023 and June 2025, falsely claiming the shipments originated from Oman and Iraq when they were actually sourced from Iran.
The transactions involved 32 US dollar-denominated payments totaling $192 million, processed through American financial institutions.
Civil case resolution
Last week, the US Securities and Exchange Commission (SEC) also dropped civil fraud charges against Adani and his nephew after they agreed to an $18 million settlement. The agreement did not require an admission of wrongdoing but prohibited future violations of US anti-fraud laws, including securities fraud and market manipulation.
Political and legal context
Sources suggest the decision to drop the charges reflects a broader shift under former President Donald Trump's administration away from prosecuting foreign bribery cases. Adani reportedly hired a high-profile legal team led by Robert J. Giuffra Jr., a prominent lawyer and Trump ally, to negotiate with prosecutors.
The New York Times, citing unnamed sources, reported that Adani's legal team proposed a $10 billion investment in the US and the creation of 15,000 jobs if charges were dismissed. Adani had previously made a similar pledge to Trump following the 2024 election.
Implications for Adani
With all three US legal cases now resolved, Adani is free to travel to the United States without facing legal proceedings. The billionaire, ranked among the world's richest individuals with a net worth of $82 billion, leads one of India's largest conglomerates, with interests spanning energy, ports, and airports.
The Adani Group has not yet responded to requests for comment from the BBC, which has also sought clarification from the US Department of Justice.
