US Set to Drop Fraud Charges Against Adani; $10 Billion Investment Offered

The US Department of Justice is reportedly planning to drop fraud and bribery charges against Indian billionaire Gautam Adani.

The case, initiated during the final weeks of the Biden administration, accused the Adani Group of a massive $265 million bribery scheme to secure solar power contracts.

The turnaround follows a high-profile intervention by Robert J. Giuffra Jr., a lawyer linked to President Trump. In a strategic move, Adani’s team proposed a $10 billion investment in the US economy and the creation of 15,000 jobs in exchange for dropping the criminal charges. While the criminal case may be dismissed, Adani faces significant financial penalties, including an $18 million settlement with the SEC and a potential $275 million fine from the Treasury Department for violating sanctions related to Iran.