US prosecutors drop fraud charges against Gautam Adani

U.S. prosecutors have decided to drop the criminal fraud and conspiracy charges against Indian billionaire Gautam Adani, who was accused in 2024 of offering substantial bribes to obtain a solar power project in India. Adani, among the wealthiest individuals globally, faced allegations of conspiracy, securities fraud, and wire fraud linked to a contract for Adani Green Energy to deliver 12 gigawatts of solar energy to the Indian government. The Adani Group labeled these claims as unfounded. Prosecutors cited prosecutorial discretion as the reason for not pursuing the case further, although Judge Nicholas Garaufis must still authorize the dismissal. Adani was never arrested or tried in the U.S. This decision follows the U.S. Securities and Exchange Commission's settlement of a related lawsuit against him, with some in India anticipating this outcome after President Donald Trump halted enforcement of the Foreign Corrupt Practices Act.