The New York Times reported on Thursday that the US Department of Justice was considering dropping criminal charges against Gautam Adani after discussions linked to a proposed $10-billion investment in the United States.
According to the report, the move could bring a sudden end to one of the most prominent corporate fraud investigations involving an Indian business conglomerate in recent years.
The report stated that the development followed Adani’s decision to appoint a new legal team headed by Robert J Giuffra Jr., who is one of Donald Trump’s personal lawyers and co-chairman of the law firm Sullivan & Cromwell, Indian Express reported.
The criminal case against Adani originated from an indictment announced by US prosecutors in November 2024. Authorities had accused Gautam Adani, his nephew Sagar Adani and several associates of allegedly orchestrating a bribery scheme involving around $265 million paid to Indian government officials.
According to the NYT report, Giuffra met officials at the Justice Department headquarters in Washington last month and argued that prosecutors lacked sufficient evidence and jurisdiction to pursue the case. The newspaper stated that Giuffra used a presentation to challenge the legal basis of the prosecution.
The report further claimed that the legal team conveyed that Adani would be willing to invest $10 billion in the US economy and generate around 15,000 jobs if the charges were withdrawn, echoing a commitment reportedly made after Trump’s election victory.
The Adani Group did not respond to requests for comment from The Indian Express regarding the report.
The NYT also reported that Giuffra attempted to resolve a parallel civil case filed by the US Securities and Exchange Commission as well as a separate Treasury Department investigation. According to the report, both agencies were preparing settlement agreements that could include financial penalties.
Although prosecutors reportedly maintained that the proposed investment would not influence the outcome of legal proceedings, sources cited by the newspaper said the offer received a favourable response from Justice Department officials.
US prosecutors had earlier said that the payments were intended to secure solar energy contracts expected to generate nearly $2 billion in profits over two decades and support one of India’s largest renewable energy projects.
Authorities in the United States alleged that Gautam Adani, Sagar Adani and former Adani Green Energy chief executive Vneet Jaain had raised more than $3 billion from international investors through loans and bond offerings while concealing details of the alleged corruption scheme. They were charged with securities fraud, conspiracy to commit securities fraud and wire fraud conspiracy.
The SEC had separately accused the executives of misleading investors and hiding corruption-related risks connected to the company’s operations. Last year, the regulator reportedly sought assistance from India’s Ministry of Law and Justice in relation to alleged violations of securities laws involving Gautam and Sagar Adani.
The investigation also extended to executives linked to Azure Power Global.
When the indictment was announced, none of the accused was in US custody. Former US Attorney Breon Peace had stated at the time that arrest warrants for Gautam and Sagar Adani had been secured and would be shared with international law enforcement agencies.
Adani and his associates have consistently denied the allegations, maintaining that the accusations are baseless and politically motivated. The company has also asserted that it complied with all disclosure norms and corporate governance requirements.