U.S. prosecutors drop fraud charges against billionaire Indian businessman Gautam Adani
U.S. prosecutors have requested the dismissal of fraud charges against Indian billionaire Gautam Adani, who was accused of deceiving investors in a solar project. The charges included conspiracy and securities fraud related to a deal for Adani Green Energy Ltd. to sell solar power to the Indian government. The decision follows a review by the Department of Justice and comes after the U.S. Securities and Exchange Commission settled a related lawsuit against Adani.
- ▪Prosecutors asked a judge to dismiss criminal fraud and conspiracy charges against Gautam Adani.
- ▪Adani was accused of paying bribes to secure a lucrative solar project in India.
- ▪The dismissal request follows a settlement by the U.S. Securities and Exchange Commission related to Adani.
Opening excerpt (first ~120 words) tap to expand
NEW YORK — U.S. prosecutors asked a judge Monday to dismiss criminal fraud and conspiracy charges against Indian billionaire Gautam Adani, who had been accused of duping investors in a massive solar project in India. Adani, one of the world’s richest people, was accused in 2024 of paying massive bribes to ensure the project’s success. He was charged with conspiracy, securities fraud and wire fraud charges in connection with a lucrative arrangement for Adani Green Energy Ltd. and another firm to sell 12 gigawatts of solar power to the Indian government to light millions of homes and businesses. The Adani Group denied the allegations at the time, calling them baseless.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Washington Times.
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