The U.S. Department of Justice has formally asked a federal court to dismiss criminal charges against Gautam Adani, a Indian billionaire accused of misleading U.S. and global investors while raising billions of dollars to fund a major solar power project in India.
Adani, considered one of the richest people in Asia, allegedly promised to pay more than $250 million in bribes to Indian officials to secure lucrative contracts. He and his executives further raised money from investors by falsely claiming that the company maintained strict anti-corruption policies – while allegedly continuing the bribery scheme and later attempting to cover up the evidence, prosecutors alleged in 2024.
Despite the seriousness of the allegations, the Justice Department requested that the case be dismissed “with prejudice,” indicating that the charges would be permanently dropped and could not be filed in the future, according to court records filed Monday. The Adani Group has denied the allegations, calling them baseless.
“The Department of Justice has reviewed this matter and has decided, within its discretion, not to devote further resources to these criminal charges against individual defendants,” prosecutors wrote in a court filing.
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Gautam Adani has a conversation during an all-party prayer meeting on February 23, 2026 in Mumbai, India. (Bhushan Koyande/Hindustan Times via Getty Images/Getty Images)
The decision to drop the charges follows an announcement by the U.S. Securities and Exchange Commission (SEC) that it has requested entry of final consent judgments, subject to court approval, in a related lawsuit involving Adani. The proposed resolution would not require Gautam Adani or Sagar Adani to admit or deny the SEC’s allegations.
In early 2020, Adani Green Energy Limited, led by Gautam Adani, won a major contract to develop solar power projects. in India.
However, some Indian state governments have reportedly refused to purchase electricity from the project due to high costs.
Gautam Adani, Chairman of the Adani Group, attends a festival in Prayagraj, Uttar Pradesh, India, Tuesday, January 21, 2025. (Indranil Aditya/Bloomberg/Getty Images)
As a result, Gautam Adani and his nephew, Sagar Adani, allegedly resorted to bribery, including promising more than $250 million in payments to Indian officials, in order to secure power purchase agreements for the expensive solar energy.
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Teleprinter Security Last Change Change % ADANIGREEN NO DATA AVAILABLE – – – During the same period, the company required significant capital to finance the projects and raised approximately $750 million through bond sales to U.S. and international investors.
Federal prosecutors alleged that Adani Green and its related entities raised more than $3 billion through loans and bond offerings while making false and misleading statements about the company’s anti-corruption practices.
Prosecutors added that, to attract investors, the company falsely presented itself as an industry leader in corporate governance with a strict “zero tolerance” policy on corruption.
Indian billionaire Gautam Adani speaks during an interview at his office in Ahmedabad, western India, April 2, 2014. (Reuters/Amit Dave/File photo/File photo / Reuters Photos)
When U.S. authorities, including the FBI and SEC, began investigating corruption allegations, several executives were accused by prosecutors of trying to obstruct the investigation by deleting emails and electronic messages, withholding information during internal investigations and making false statements to federal agents.
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Dismissal of the case is contingent on the approval of Judge Nicholas Garaufis, according to the documents.
