US authorities have officially dropped fraud charges against billionaire Gautam Adani following a strategic legal intervention. The charges related to allegations that Adani paid hundreds of millions of dollars in bribes and hid these payments from authorities. According to multiple reports, the reversal came after Adani hired a new legal team led by Robert J. Giuffra Jr., one of President Trump's personal lawyers and co-chairman of Sullivan & Cromwell. During a previously unreported meeting at the Justice Department's headquarters in Washington last month, Giuffra presented approximately 100 slides outlining why prosecutors lacked basic evidence and jurisdiction to bring the case. The decision represents a significant turnaround from when the Justice Department indicted India's richest man in the final weeks of the Biden administration, describing an 'elaborate' bribery scheme involving 'corruption and fraud at the expense of U.S. investors'.
The legal resolution came with a substantial economic commitment from Adani. During the Justice Department meeting, Giuffra made an unusual offer that Adani would invest $10 billion in the American economy and create 15,000 jobs if prosecutors dropped the charges. This offer echoed a pledge Adani had made in the wake of Trump's election. The settlement also encompassed parallel legal proceedings, with Giuffra seeking to resolve a Securities and Exchange Commission case and a separate investigation by the Treasury Department. The SEC announced its settlement with Adani late Thursday, while the Treasury Department could unveil its own deal in coming days.
The Congress party launched a scathing attack on Prime Minister Narendra Modi following reports that charges against billionaire Gautam Adani are set to be dropped by US authorities. According to reports from Devdiscourse, Congress party spokesperson Jairam Ramesh expressed concerns over the recent Indo-US trade agreement, alleging it was lopsided in favor of the US and hinting at possible external influence dictating the Prime Minister's actions. The opposition party's criticism came after media reports claimed that US authorities are moving to settle fraud charges against Adani, with Ramesh stating that it is now clear why the PM agreed to the 'hopelessly one-sided' Indo-US trade deal that was 'really a steal by the US.'
Ramesh also addressed the abrupt halt of Operation Sindoor on May 10, 2025, speculating that motivations were driven by US threats rather than India's interests. As reported by Devdiscourse, Ramesh questioned how much more 'compromised' the PM could get, suggesting that the timing of these developments raises serious questions about India's strategic positioning in international affairs. The Congress party's attack comes as the opposition seeks to explain the PM's decision-making process regarding both the trade deal and the suspension of Operation Sindoor.
