The DOJ wants the corruption charges against billionaire Gautam Adani to be dropped
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The US Department of Justice has formally asked a federal court to drop criminal charges against Gautam Adani, the Indian billionaire accused of misleading American and global investors while raising billions of dollars to finance a major solar power project in India.
Adani, considered one of the richest people in Asia, is alleged to have offered bribes to Indian officials of more than R250 million to secure lucrative contracts. He and his superiors continued to raise money from investors by falsely claiming that the company maintained strict anti-corruption policies — all while continuing a bribery scheme and later trying to hide evidence, prosecutors said in 2024.
Despite the heated allegations, the Justice Department has asked that the case be dismissed “with prejudice,” indicating that the charges will be dismissed permanently and will not be brought back in the future, according to court records filed Monday. Adani Group dismissed the allegations, saying they were baseless.
“The Department of Justice has reviewed this case and has decided, in the discretion of the prosecutor, not to use any other resources in these criminal cases against each defendant,” prosecutors wrote in court.
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Gautam Adani talks during a group 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 from the US Securities and Exchange Commission (SEC) that it has moved to enter final judgment by consent, subject to court approval, in a related case involving Adani. The proposed resolution would not require Gautam Adani or Sagar Adani to admit or deny the SEC’s allegations.
As of 2020, Adani Green Energy Limited, headed by Gautam Adani, won a major contract to develop solar power projects in India.
However, some Indian 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, on Tuesday, Jan. 21, 2025. (Indranil Aditya/Bloomberg/Getty Images)
As a result, Gautam Adani and his nephew, Sagar Adani, allegedly resorted to bribery, including promises of more than $250 million in payments to Indian officials, to secure deals to buy expensive solar power.
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At the time, the company needed capital to finance projects and raised nearly $750 million through bond sales to American and international investors.
Federal prosecutors allege that Adani Green and related entities raised more than $3 billion in loans and bond offerings while making false and misleading statements about the company’s anti-bribery and anti-corruption practices.
Prosecutors added that, to attract investors, the company falsely portrayed itself as an industry leader in corporate governance with a strict “zero tolerance” policy on bribery.
Indian billionaire Gautam Adani speaks during an interview at his office in the western Indian city of Ahmedabad on April 2, 2014. (Reuters/Amit Dave/File Photo/File Photo/Reuters)
When US authorities, including the FBI and the SEC, began investigating the alleged corruption, several officials were accused by prosecutors of attempting 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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The dismissal of the case is subject to the approval of Judge Nicholas Garaufis, according to the documents.
