US authorities are reportedly working to resolve fraud charges against billionaire Gautam Adani, a case that has shadowed Asia’s richest person for more than a year. According to Bloomberg, officials are now moving toward winding down both criminal and civil proceedings linked to the allegations.
Possible withdrawal of criminal case
Sources familiar with the matter told Bloomberg that the US Department of Justice may announce as early as this week that it is dropping the criminal charges. The move is said to be linked to the fact that the accused have remained outside the United States, making prosecution difficult to pursue.
SEC moving toward settlement
In a parallel development, the US Securities and Exchange Commission (SEC) is also reportedly working toward settling its civil fraud case against Gautam Adani and others. The case was filed in November 2024 and is now progressing toward a possible resolution, which could include a financial penalty.
Relief for Adani Group businesses
If the cases are closed, it would be a major relief for the Adani Group. The conglomerate operates across sectors including ports, airports, energy, infrastructure, and mining.
A resolution could also improve investor confidence and help the group regain smoother access to global capital markets, which had become more cautious following the legal developments.
Background of the US indictment
The case dates back to November 2024, when prosecutors in Brooklyn filed a five-count indictment. They alleged that Gautam Adani and others were involved in a $250 million bribery scheme connected to solar energy contracts in India.
Authorities claimed that bribes were promised to Indian officials to secure renewable energy projects, and that the alleged conduct was concealed while raising funds from US investors.
The Adani Group has repeatedly denied all allegations.
Proceedings stalled in court
None of the accused, including Gautam Adani and his nephew Sagar Adani, have appeared before a US court so far, which has slowed down the criminal proceedings.
SEC civil case and defence arguments
In a separate civil action, the SEC alleged that Gautam Adani led efforts to arrange or promise large-scale bribes linked to solar power contracts.
The legal proceedings had begun advancing earlier this year, but Adani’s legal team has pushed for dismissal. They argued that US regulators lack jurisdiction over the case and that the allegations do not meet the legal threshold required for enforcement.
What happens next
If both cases are formally dropped or settled, it would close a major legal overhang for the Adani Group and potentially reshape how international investors view the ongoing expansion plans of one of India’s largest conglomerates.
