US judge drops bribery and fraud case against Indian billionaire Gautam Adani

What the report says

A US federal judge has dismissed criminal bribery and fraud charges against Indian billionaire Gautam Adani, ending a closely watched case involving one of India’s most prominent business figures. The Nile Post, citing reporting from the BBC, said the case centered on allegations that Adani and his companies paid bribes to Indian officials to secure renewable energy projects and misled US investors. Adani and his companies have denied any wrongdoing throughout the proceedings.

US District Judge Nicholas Garaufis approved the Justice Department’s request to drop the indictment, but he also criticized the way the decision was handled. According to the ruling described in the article, the judge said the process was unusual and suggested senior Justice Department officials moved ahead without meaningful consultation with prosecutors and investigators who had worked on the case. He also examined whether Adani’s later pledge to invest in the US had any role in the dismissal, but concluded it did not.

The Justice Department had argued in May that much of the alleged conduct occurred outside the US and that continuing the case no longer fit the department’s priorities. The dismissal was entered with prejudice, meaning the charges cannot be revived. Adani welcomed the outcome and said he accepted the court’s decision with respect.

The article notes that the criminal case is separate from other US actions involving Adani and his companies, including a recent Securities and Exchange Commission settlement and a separate sanctions-related civil settlement.