US drops bribery and securities fraud charges against Gautam Adani
Big news: The US has dropped all bribery and securities fraud charges against Indian billionaire Gautam Adani.
The case, which started back in late 2024, accused Adani and his team of conspiring to pay more than $250 million in bribes for solar energy deals in India and misleading investors to raise over $3 billion.
US prosecutors cite India jurisdiction limits
US prosecutors decided to walk away because most of the alleged actions happened in India, making it tough for them to claim jurisdiction.
They also couldn't show that investors actually lost money.
Meanwhile, Adani's legal team put up a strong defense with hundreds of pages of evidence pushing back on the claims.
On the side, Adani and his nephew settled related civil charges by paying fines of $6 million and $12 million, but didn't admit any wrongdoing.