Gautam Adani won dismissal of U.S. securities fraud charges, ending a blockbuster case that threatened the expansion of the Indian billionaire¡¯s giant conglomerate.
U.S. District Judge Nicholas Garaufis in Brooklyn, New York, on Monday dismissed conspiracy, securities and wire fraud charges against Adani and his nephew Sagar Adani. The case was brought in an indictment in the waning days of President Joe Biden¡¯s administration in late 2024.
The U.S. alleged Adani was part of a scheme to pay more than $250 million in bribes to Indian government officials to lock in solar energy contracts ¡ª allegations Adani has consistently denied. Garaufis said the charges against the Adanis would be dismissed ¡°with prejudice,¡± meaning the government cannot revive the case.
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