The US Department of Justice has reportedly dropped all charges against Gautam Adani, effectively closing the case permanently.
This development comes after Adani appointed a new legal team led by Robert J. Giffra Jr., one of former US President Donald Trump’s personal lawyers.
According to reports, Giffra presented a 100-slide presentation at the US Department of Justice headquarters in Washington DC, arguing that prosecutors lacked fundamental evidence and jurisdiction to pursue the case.
The legal team also reportedly highlighted that the case was legally weak and challenged the authority under which it was filed.
Additionally, it was claimed that Adani’s legal strategy included offering a plan involving $10 billion investment in the United States and the creation of 15,000 jobs.
The US Securities and Exchange Commission (SEC) had filed a lawsuit in November 2024 against Adani Group founder and his nephew Sagar Adani, alleging failure to disclose an alleged bribery scheme involving Indian state officials.
Both parties denied all allegations and filed a pre-emptive petition before a scheduled hearing in the Eastern District Court of New York.
In their petition, they argued that the SEC’s claims regarding bond sales by Adani Green Energy Limited (AGEL) in 2021 were legally flawed on multiple grounds.