U.S. prosecutors asked a judge Monday to dismiss criminal fraud and conspiracy charges against Indian billionaire Gautam Adani, who had been accused of duping Wall Street investors who poured billions of dollars into a massive solar project in India.
Adani was indicted in federal court in Brooklyn in 2024 on charges of conspiracy, securities fraud and wire fraud in connection with an arrangement for Adani Green Energy Ltd. and another firm to sell 12 gigawatts of solar power to the Indian government. Prosecutors alleged he paid $265 million in bribes to Indian government officials to secure lucrative contracts for projects meant to light millions of homes and businesses.
The Department of Justice filing stated that prosecutors had decided "in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants." The motion was signed by Principal Associate Deputy Attorney General R. Trent McCotter and Brooklyn U.S. Attorney Joseph Nocella Jr. Judge Nicholas Garaufis must still approve the request. Lawyers for Adani and his co-defendants consented to the dismissal.
Adani was never arrested or brought to the United States to face trial. The move comes after the U.S. Securities and Exchange Commission said it was settling a related civil lawsuit against Adani.
What the Right Is Saying
Supporters of the prosecution's decision argue it reflects appropriate prosecutorial discretion and sound foreign policy. "The DOJ correctly assessed that pursuing these charges would require enormous resources with uncertain outcomes given jurisdictional complexities," said former federal prosecutor Thomas Kirkland.
Conservative commentators have framed the dismissal as a validation of the administration's approach to FCPA enforcement reform. "Suspending aggressive extraterritorial prosecution of foreign business dealings is exactly what many experts recommended—it was driving companies away from legitimate deals in developing markets," wrote The Wall Street Journal editorial board.
The Adani Group maintained throughout that the allegations were baseless, calling them "a malicious combination of selective misinformation and stale, discredited allegations." The company's defenders point to its substantial infrastructure investments across India, including ports, airports and renewable energy projects that created thousands of jobs.
What the Left Is Saying
Progressive critics of the dismissal argue it signals weakness in U.S. enforcement of foreign corruption laws. "The decision to drop charges against one of the world's richest men while his alleged co-conspirators remain under investigation raises serious questions about selective justice," said a statement from good government advocacy group Public Citizen.
Senators on the Senate Judiciary Committee have requested briefings on the DOJ's reasoning, with some calling for transparency around whether diplomatic considerations with India played any role in the decision. The dismissal follows the Trump administration's suspension of Foreign Corrupt Practices Act enforcement last year, which critics say has emboldened bad actors abroad.
Environmental advocates note that while Adani built one of the world's largest solar portfolios and set goals to become India's biggest clean energy player by 2030, the underlying allegations involved bribery to win government contracts rather than clean energy itself. "This case was always about corruption, not renewables," said a spokesperson for Greenpeace USA.
What the Numbers Show
Adani was ranked among the world's top five richest people before the scandal. His fortune was built primarily in coal starting in the 1990s, with the Adani Group expanding into renewables, defense, agriculture and other sectors.
The solar project at the center of the case involved $12 billion to $15 billion in committed investment capital from U.S.-based investors, according to court documents. The projected 12 gigawatts of capacity would have been among the largest single renewable energy installations globally.
After charges were announced in 2024, several countries moved against Adani deals: Kenya canceled airport expansion and energy agreements worth hundreds of millions of dollars; Sri Lanka saw Adani Green Energy withdraw wind projects after seeking price renegotiations; a French oil major paused new investments. Some analysts estimate the immediate market impact wiped tens of billions from Adani Group's valuation.
The Foreign Corrupt Practices Act, which prohibits U.S. companies and individuals from bribing foreign officials, was enacted in 1977. The Trump administration suspended its enforcement last year, with Attorney General Pam Bondi calling it a barrier to American business overseas.
The Bottom Line
The dismissal marks an abrupt end to one of the most high-profile international corruption prosecutions in recent years. While Judge Garaufis must still sign off on the request, consent from all parties makes approval largely procedural.
What remains unresolved is whether any Adani Group executives will face consequences through other legal channels. The simultaneous SEC settlement suggests a parallel path that avoided criminal prosecution but did not fully exonerate. Investors who lost money when stock prices fell after charges were announced may pursue civil litigation independently.
Internationally, the case could affect how developing nations view deals with companies linked to Adani going forward. Countries that canceled projects amid the U.S. investigation now face decisions about whether to reinstate them under the cloud of unresolved allegations—without a U.S. conviction providing clarity on what actually occurred.