US Court Dismisses Graft Case Against Gautam Adani, He Welcomes Verdict
The dismissal followed questions from Judge Garaufis over reports that Adani's lawyer, Robert Giuffra, who also represents US President Donald Trump, had discussed a potential $10 billion investment by the Adani Group in the US
NEW YORK: A US federal judge has dismissed criminal charges against billionaire industrialist Gautam Adani and his nephew Sagar Adani, after the US Justice Department moved to drop the long-running bribery and securities fraud case.
US District Judge Nicholas Garaufis of the Eastern District of New York formally approved prosecutors' request to dismiss the charges, which stemmed from allegations that the Adanis were involved in a $265 million scheme to bribe Indian officials to secure lucrative solar power contracts and subsequently mislead US investors.
The Justice Department had earlier argued that the case was legally weak, largely centred on conduct in India and no longer served the interests of justice. In a July 4 filing, the department said the prosecution "should never have been brought", citing significant jurisdictional concerns over the securities fraud allegations.
The dismissal followed questions from Judge Garaufis over reports that Adani's lawyer, Robert Giuffra, who also represents US President Donald Trump, had discussed a potential $10 billion investment by the Adani Group in the US. The judge concluded that the reported investment pledge had not influenced the Justice Department's decision to seek dismissal.
Garaufis, however, criticised the manner in which Trump-appointed Deputy Associate Attorney General Trent McCotter pursued the dismissal, saying it appeared unusual that the decision was made largely in consultation with defence lawyers and seemingly without input from FBI and SEC investigators or prosecutors who had handled the case.
Welcoming the court's decision, Adani said he had "deep respect for the judicial process" and that his faith in "truth, fairness and the rule of law" had remained unwavering throughout the case.
"The US court's decision" was welcomed with "humility and deep respect for the judicial process," Adani said in a post on X, expressing gratitude to those who continued to have faith in his group, the legal system and India's capacity for justice.
The Adani Group, one of India's largest business conglomerates, has interests spanning ports, power, cement and media. Gautam Adani is also a prominent supporter of Prime Minister Narendra Modi and has been a vocal backer of Trump.
