US To Drop Criminal Case Against Gautam Adani: Justice Department Set To Withdraw USD 265 Million Bribery and Fraud Charges, Says Report

In a major development for one of India's most powerful business empires, the United States Justice Department is preparing to drop criminal charges against Adani Group chairman Gautam Adani as early as this week, according to a Bloomberg report. The US Securities and Exchange Commission (SEC) is simultaneously moving toward settling a parallel civil fraud case filed in November 2024.

What Were the Charges Against Gautam Adani?

The charges stemmed from a November 2024 indictment in which US prosecutors in New York accused Gautam Adani, his nephew Sagar Adani, and several other executives of orchestrating a bribery scheme involving approximately USD 265 million in payments to Indian government officials. Prosecutors alleged the payments were made to secure solar energy contracts expected to generate nearly USD 2 billion in profits over two decades, tied to India's largest solar power plant project. Gautam Adani Moves To Dismiss US SEC Lawsuit, Cites Lack of Jurisdiction.

US authorities further alleged that Gautam Adani, Sagar Adani, and former Adani Green Energy CEO Vneet Jaain raised more than USD 3 billion through loans and bond offerings while concealing details of the alleged corruption from lenders and investors. The three were charged with securities fraud, securities fraud conspiracy, and wire fraud conspiracy.

According to the indictment, some conspirators privately referred to Gautam Adani using code names such as "Numero uno" and "the big man." Prosecutors also alleged that Sagar Adani used his cellphone to track details related to the bribe payments. Gautam Adani in Trouble? Law Ministry Directs Gujarat Court To Deliver US SEC Summons to Adani Group Chairman in Bribery Case, Says Report.

Who Else Was Named in the Case?

Other defendants included former Azure Power Global executives Ranjit Gupta and Rupesh Agarwal, along with executives linked to Canadian institutional investor Caisse de Depot et Placement du Quebec, including dual French-Australian citizen Cyril Cabanes, who also faced SEC charges. Prosecutors stated that all remaining defendants were Indian citizens. At the time the charges were announced, none of the accused were in US custody.

What Happens Next?

According to people familiar with the matter cited by Bloomberg, discussions around the withdrawal remain confidential. The Justice Department's move to drop the criminal case, combined with the SEC's parallel civil settlement process, could bring significant relief to Gautam Adani and the broader Adani Group more than a year after the charges first sent shockwaves through Indian financial markets.

Who Is Gautam Adani?

Adani founded the Adani Group in 1988 as a commodities trading business after dropping out of school at age 16 in Gujarat. Over the decades, he expanded the conglomerate into ports, airports, mining, power generation, transmission, and logistics, building one of India's largest and most influential infrastructure empires.

(The above story first appeared on LatestLY on May 14, 2026 11:09 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).