US authorities move to resolve fraud cases against India's Adani, Bloomberg News reports
The SEC is also moving toward a settlement that could include financial penalties, according to Bloomberg.
- The United States Justice Department may drop criminal charges against Gautam Adani regarding a $250 million bribery scheme, sources reported, as defendants remain outside the country.
- In November 2024, prosecutors filed a five-count indictment alleging Adani and associates promised $250 million in bribes to Indian officials for solar contracts; the Adani Group consistently denied all allegations.
- The Securities and Exchange Commission is moving toward a settlement in its parallel civil fraud case, which may include financial penalties, while Adani's legal team previously argued regulators lacked jurisdiction.
- Resolving these cases could permit the Adani Group to return to international capital markets and revive global expansion plans, according to people familiar with the matter.
- Last month, Attorney Robert J. Giuffra Jr., one of President Donald Trump's personal lawyers, met with Justice Department officials in Washington to argue prosecutors lacked sufficient evidence.
18 Articles
18 Articles
US authorities reportedly reconsider fraud charges against Gautam Adani
United S authorities are moving towards resolving fraud charges against Indian billionaire Gautam Adani after he reportedly hired a new legal team led by US President Donald Trump’s personal lawyer, according to reports published by Bloomberg News and The New York Times on Thursday. Gautam and his nephew Sagar Adani were charged by the US Securities and Exchange Commission (SEC) in November 2024 with allegedly orchestrating a scheme to pay or pr…
US moves to end fraud cases against Asia’s richest person, Gautam Adani
US authorities are moving to resolve the fraud charges against Indian billionaire Gautam Adani, according to people familiar with the matter, and end a criminal case that has hung over Asia’s richest person for more than a year. The Justice Department may announce that they are dropping the charges as soon as this week, said the people, who asked not to be identified discussing a confidential matter. The Securities and Exchange Commission is als…
'Offering Trump a bribe': Outrage as DOJ drops charges after billionaire's cash promise
The Department of Justice is dropping Biden-era bribery charges against an Indian billionaire after he hired one of President Donald Trump's personal lawyers.Gautam Adani was indicted weeks before the end of Joe Biden's presidency for his alleged role in what prosecutors described as an “elaborate” ...
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