Now Reading: US court dismisses all criminal charges against Adani
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US court dismisses all criminal charges against Adani
A US district court on Monday dismissed all criminal charges against Gautam Adani, his son Sagar Adani, and associate Vneet Jaain at the request of the US Justice Department. The court also…
The Story in Brief
A US district court on Monday dismissed all criminal charges against Gautam Adani, his son Sagar Adani, and associate Vneet Jaain at the request of the US Justice Department. The court also finalised a settlement with the Securities and Exchange Commission: the Adanis will pay $18 million without admitting guilt. The DoJ’s Trent McCotter said the securities fraud case was legally 'indefensible' and rejected claims it was linked to the Adani Group's proposed $10 billion US investment.
Congress leader Rahul Gandhi attacked Prime Minister Modi on Wednesday, alleging a 'compromised PM was forced to sell India’s interests'. In a sworn affidavit, Adani denied any promise or deal behind the dismissal. The criminal indictment, unsealed in November 2024, had alleged a $250 million bribery scheme and wiped out nearly Rs 2.85 lakh crore in Adani group market capitalisation.
The Indian Opinion
Rahul Gandhi's claim that a 'compromised PM sold India's interests' fits a pattern of attacking the government without evidence. But the opposite narrative, that Adani's $10 billion US investment plan secured the dismissal, was also explicitly denied by the DoJ's own decision-maker. The DoJ cited legal weakness, not a deal. The real test now is whether Indian authorities' parallel investigation, which the DoJ noted had found nothing, will satisfy domestic sceptics or become its own flashpoint.
Sources (2): hindustantimes.com, thehindu.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
