Dubai: US authorities are moving to resolve fraud charges against Indian billionaire Gautam Adani, potentially ending a criminal case that has hung over the Adani Group for more than a year, Bloomberg News reported.According to people familiar with the matter, the US Justice Department could announce as early as this week that it is dropping criminal charges filed against Adani and other defendants. The US Securities and Exchange Commission (SEC) is also reportedly moving toward a settlement in a parallel civil fraud case launched in November 2024.The development would mark a major relief for the Adani Group, one of India’s most powerful conglomerates with interests spanning ports, airports, coal, logistics and renewable energy.Ending the cases could clear the way for the group to return to international capital markets and revive its aggressive global expansion plans, Bloomberg reported.Financial penaltiesWhile the Justice Department may move to drop the charges because the defendants remain outside the United States, a settlement with the SEC is expected to involve financial penalties, according to the report.The US Attorney’s Office in Brooklyn declined to comment, while representatives for the SEC and the Adani Group did not immediately respond to requests for comment.In November 2024, US prosecutors accused Adani and others in a five-count indictment of participating in a $250 million bribery scheme tied to solar power contracts in India.The Justice Department alleged that Adani and his associates promised bribes to Indian officials to secure energy deals and then concealed the scheme while raising funds from US investors.The Adani Group has consistently denied the allegations.None of the defendants, including Gautam Adani and his nephew Sagar Adani, have appeared in a US court, effectively stalling the criminal proceedings.Meanwhile, the SEC’s parallel fraud case had started advancing in court before the latest push toward settlement.Earlier this year, Adani’s legal team argued that the SEC lacked jurisdiction over the two men and said the alleged misstatements cited by regulators were not actionable under US law.Who is Gautam Adani?Founder and chairman of the Adani Group, one of India’s biggest conglomeratesBuilt a business empire spanning ports, airports, energy, mining, logistics and infrastructureRose from a commodities trader to one of Asia’s richest businessmenAdani Group operates India’s largest private port networkExpanded aggressively into renewable energy, data centres and airportsSeen as a key player in India’s infrastructure and economic growth storyFrequently ranked among the world’s richest individualsCame under global scrutiny after fraud allegations and a major short-seller attack in 2023The group has repeatedly denied allegations of fraud or wrongdoingAdani remains one of the most influential figures in Indian businessAdani Group: Key business interestsAdani Group has businesses across several sectors:Ports and logisticsAirports and aviation servicesCoal mining and tradingRenewable energy and solar powerPower generation and transmissionNatural gas distributionInfrastructure and constructionData centres and digital infrastructureCement and building materialsMedia and broadcastingFood and agri businessesSome of its major companies include:Adani Ports and Special Economic ZoneAdani Green EnergyAdani Energy SolutionsAdani EnterprisesAdani PowerNDTVThe group operates some of India’s biggest ports and airports and has expanded rapidly into energy and infrastructure projects both in India and abroad.A Senior Associate Editor with more than 30 years in the media, Stephen N.R. curates, edits and publishes impactful stories for Gulf News — both in print and online — focusing on Middle East politics, student issues and explainers on global topics.