DOJ: Gautam Adani case not linked to $10B investment
The US Department of Justice (DOJ) has made it clear: dropping charges against Indian billionaire Gautam Adani and seven others had nothing to do with the Adani Group's massive $10 billion investment plans in the United States.
Instead, the DOJ pointed to weak evidence and a lack of US jurisdiction as the main reasons for ending the case.
The original allegations included bribing Indian officials and securities fraud involving American investors.
R. Trent McCotter denies outside influence
Principal Associate Deputy Attorney General R. Trent McCotter emphasized that his decision was purely based on legal grounds, not outside influence or business deals.
He explained most alleged misconduct happened in India, where local authorities found nothing actionable, and key witnesses were outside the US
McCotter also noted he reached his conclusions before any investment talks began.
The dismissal is now being reviewed by a US judge.