The U.S. Department of Justice filed a motion to drop fraud charges against Gautam Adani, chair and founder of Adani Group. File Photo by Divyakant Solanki/EPA
May 19 (UPI) -- The U.S. Department of Justice announced it will drop criminal fraud charges against billionaire Indian businessman Gautam Adani.
The Justice Department submitted a motion Monday asking a federal judge to drop the indictment from 2024 brought by the U.S. Attorney's Office in Brooklyn, N.Y. The request said the department "reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants," NBC News reported the court filing said.
Principal Associate Deputy Attorney General Trent McCotter and Brooklyn U.S. Attorney Joseph Nocella signed the filing. Prosecutors assigned to the case were not included.
Separately, the President Donald Trump administration announced it had reached a $275 million settlement with a company founded by Adani over "egregious" apparent violations of U.S. sanctions against Iran, Politico reported.
