US Drops Fraud, Corruption Cases Against Indian Billionaire Adani

The decision came weeks after Adani's lawyer, who also represents US President Donald Trump, reportedly said the businessman was prepared to invest $10 billion in the United States but could not proceed while the legal cases remained active.

US prosecutors had accused Adani of involvement in a $265 million bribery scheme aimed at securing approvals for a major solar power project through Adani Green Energy, one of the group's subsidiaries.

Authorities had also alleged that Adani and associates misled American investors about anti-corruption practices while raising more than $3 billion from lenders and investors.

The Adani Group denied wrongdoing and said it had committed no violations. The move is viewed as part of broader policy changes under the Trump administration, which has rolled back or reassessed several major corporate and financial investigations initiated during former President Joe Biden's administration.

Earlier, the US Treasury Department said Adani Enterprises agreed to pay $275 million to settle allegations related to sanctions violations involving Iranian-origin liquefied petroleum gas shipments.

According to US authorities, the company purchased gas cargoes from a Dubai-based trader who claimed the supplies originated from Oman and Iraq, while investigators alleged the shipments actually came from Iran.

MENAFN19052026000228011069ID1111136506