The U.S. Department of Justice announced on Monday, May 18, 2026, that it would drop criminal fraud charges against Indian billionaire Gautam Adani. The decision marks a significant reversal in a case that had drawn international attention.
Prosecutors filed a motion in federal court in Brooklyn, New York, requesting the dismissal of the indictment. The motion stated that the government had determined the evidence was insufficient to proceed to trial. The case had been initiated under the previous administration.
Gautam Adani, chairman of the Adani Group, had been charged in connection with an alleged scheme to bribe Indian officials to secure energy contracts. The charges were originally filed in November 2024. Adani has consistently denied any wrongdoing.
The court is expected to rule on the motion in the coming weeks. The Adani Group welcomed the development, stating it vindicates the company's position. The U.S. Securities and Exchange Commission continues a related civil investigation.
