NEW YORK — The U.S. Department of Justice has permanently dropped all criminal charges against Gautam Adani and his nephew, Sagar Adani, in an alleged securities and wire fraud case, according to a court filing in the Eastern District of New York.
The Justice Department asked the court to dismiss the indictment, saying it had decided not to pursue the criminal charges further.
“The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants,” the Justice Department said.
The court then ordered that the indictment against Adani and others “be dismissed with prejudice,” meaning the charges cannot be brought again in the same case.
Attorneys for Gautam Adani and Sagar Adani had argued in court that there was no credible evidence supporting the alleged bribery scheme. They also said the Securities and Exchange Commission lacked jurisdiction over the two men and that the alleged misstatements at the center of the case were not actionable.
The Adani Group had denied the allegations, saying none of its entities or executives had been charged under the U.S. Foreign Corrupt Practices Act. The group also said Adani Green Energy, the renewable energy arm that raised the funds at issue, was not a party to the proceedings.
The dismissal marks the closure of another U.S. legal matter involving the Adani Group. The Securities and Exchange Commission last week settled civil allegations against Adani.
Separately, the U.S. Treasury Department’s Office of Foreign Assets Control announced Monday that it had reached a $275 million settlement with Adani Enterprises Ltd. over apparent violations of sanctions on Iran related to the company’s purchase of liquefied petroleum gas.
OFAC said Adani Enterprises agreed to pay the amount to settle potential civil liability tied to the LPG purchases.
“From November 2023 to June 2025, AEL purchased shipments of liquified petroleum gas (LPG) from a Dubai-based trader purporting to supply Omani and Iraqi gas. Red flags should have put AEL on notice that the LPG actually originated from Iran. During this time period, AEL caused US financial institutions to process 32 US dollar-denominated payments totalling approximately $192,104,044 for the shipments,” OFAC said. (Source: IANS)
