May 18, 2026 5:12 PM EDT
NEW YORK (AP) — U.S. prosecutors asked a judge Monday to dismiss criminal fraud and conspiracy charges against Indian billionaire Gautam Adani, who had been accused of duping Wall Street investors who poured billions of dollars into a massive solar project in India.
Adani, one of the world's richest people, was accused in 2024 of paying massive bribes to ensure the project's success. He was indicted in federal court in Brooklyn on charges of conspiracy, securities fraud and wire fraud charges in connection with a lucrative arrangement for Adani Green Energy Ltd. and another firm to sell 12 gigawatts of solar power to the Indian government to light millions of homes and businesses.
The Adani Group denied the allegations at the time, calling them baseless.
"The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants," prosecutors wrote in a court filing.
