Topline
The Justice Department officially moved to drop its fraud case against Indian billionaire Gautam Adani, according to a Monday federal court filing, ending a years-long prosecution for allegedly participating in a $250 million bribery scheme for a major solar project.
Prosecutors said they would not “devote further resources” to the case against the Indian billionaire.
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Key Facts
In a short filing on Monday, the prosecutors said the Justice Department “has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants.”
The move to end Adani’s prosecution was expected after the Trump administration suspended enforcement of the Foreign Corrupt Practices Act last year, which the Justice Department used to charge the billionaire in 2024.
Judge Nicholas G. Garaufis, a federal judge in the Eastern District of New York, must still approve the move to drop the charges.
Earlier on Monday, the Treasury Department’s Office of Foreign Assets Control said it also settled with Adani Enterprises Limited for violating sanctions against Iran, agreeing to drop a civil case against the billionaire’s business for a $275 million settlement.
Days earlier, the Securities and Exchange Commission also settled a civil fraud lawsuit with Adani, with the billionaire and his nephew Sagar Adani agreeing to pay $18 million while not admitting to any wrongdoing.