New York: Gautam Adani, his nephew Sagar Adani and former employee Vineet Jain have received major relief after a US federal court dismissed criminal charges against them in the alleged bribery and fraud case.
Brooklyn District Judge Nicholas G Garaufis approved the US Department of Justice’s request to dismiss the case “with prejudice”, meaning the same charges cannot be brought against them again.
US prosecutors had indicted the three in November 2024, alleging that they were involved in a scheme to pay around $250 million in bribes to Indian government officials to secure solar-power contracts expected to generate more than $2 billion in after-tax profits over two decades.
The case also involved allegations that investors were misled while more than $3 billion was raised through loans and bonds in US markets. The Adani Group had rejected the allegations as baseless and said it had complied with applicable laws and regulations.
The Trump administration’s Justice Department argued that continuing the prosecution was not in the interests of justice, citing challenges involving the evidence, the fact that most alleged conduct occurred in India and ongoing scrutiny by Indian authorities.
The court also noted that Adani’s proposed US investment was not linked to the dismissal decision.
