Federal prosecutors in New York on November 21, 2024 indicted Adani Group Chairman Gautam S. Adani, his nephew Sagar Adani, and 6 others on a number of counts of fraud. File
| Picture Credit score: ANI
U.S. prosecutors are set to drop expenses towards billionaire Gautam Adani, who was accused of paying lots of of hundreds of thousands of {dollars} of bribes and hiding the funds, The New York Occasions reported Thursday (Could 14, 2026).
With a enterprise empire spanning coal, airports, cement and media, the chairman of Adani Group has been rocked lately by company fraud allegations and a inventory crash.
An in depth acolyte of Prime Minister Narendra Modi, he was alleged in November 2024 to have agreed to pay greater than $250 million in bribes to Indian officers for profitable photo voltaic vitality provide contracts.
The Occasions mentioned the transfer to desert the fees, introduced beneath U.S. President Joe Biden’s administration, got here after Adani employed new legal professionals led by Robert Giuffra, one among President Donald Trump’s private legal professionals.
The Occasions reported that at a gathering between defence and prosecution on the Division of Justice in April, Giuffra introduced slides, together with one which mentioned that if prosecutors dropped the fees, Mr. Adani could be prepared to speculate $10 billion within the American financial system and create 15,000 jobs.
Prosecutors beforehand detailed how one among Mr. Adani’s alleged accomplices meticulously tracked funds, utilizing his telephone to log the bribes provided to officers.
The Division of Justice didn’t reply to an AFP name for remark.
Printed – Could 14, 2026 10:42 pm IST