US Judge Dismisses Adani Bribery Case, Criticizes DOJ Official; Adani Now Asia's Richest
A US federal judge dismissed bribery charges against Gautam Adani and seven others, criticizing Department of Justice official Trent McCotter for disregarding agency experts and collaborating with defense lawyers in the decision to drop the case. The charges involved allegations of more than $250 million in bribes to Indian officials for solar power contracts. Following the dismissal, Adani's wealth rose by $2 billion, making him Asia's richest person, surpassing Mukesh Ambani and Masayoshi Son, according to Forbes.
Adani and seven others were indicted in November 2024 in a New York federal court on charges related to an alleged bribery and fraud scheme. Adani Group is one of India's largest conglomerates, with operations spanning ports, cement, energy, media and other key economic sectors.
Prosecutors had alleged that the defendants paid more than $250 million in bribes to Indian government officials to secure solar power supply contracts, misled US investors and banks to raise billions of dollars, and obstructed justice. In the 47-page ruling, Judge Nicholas Garaufis criticized the conduct of Principal Deputy Assistant Attorney General Trent McCotter, saying he "disregarded the professional opinions of countless officials across federal agencies and substituted his own judgment." The judge also noted that McCotter's decision to drop the charges against Adani was "in large part developed in collaboration with defense counsel" and that he "apparently did not consult the agencies that investigated the bribery and fraud allegations," calling the situation "highly unusual."
McCotter filed the motion to dismiss the charges against Adani on May 18, saying the Justice Department had decided after review "not to devote further resources to the criminal prosecution of these defendants." Court filings show that Adani's lawyer Robert Giuffra and his team submitted a 600-page document to help McCotter familiarize himself with the case. Giuffra also serves as personal counsel to US President Donald Trump. Earlier reports said Giuffra argued at a meeting at Justice Department headquarters that prosecutors lacked "basic evidence" to continue investigating the bribery allegations against Adani. Adani had offered to invest $10 billion in the United States and create 15,000 jobs as part of a settlement, but the latest court filings show that proposal was not a factor in the Justice Department's decision.
Earlier this year, the US Securities and Exchange Commission reached a civil settlement over bribery allegations against Adani and his nephew Sagar Adani, requiring the two to pay a total of $18 million in fines. In June, with Adani's legal troubles in the United States largely resolved, his wealth increased by $2 billion, and according to Forbes he became Asia's richest person, surpassing Reliance Industries Chairman Mukesh Ambani and SoftBank Chief Executive Masayoshi Son.