11:28:56 EDT Tue 19 May 2026
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Globe/wire say SEC told connections help Adani walk

2026-05-19 08:16 ET - In the News

Also In the News (U-*SEC) U S Securities and Exchange Commission

The Globe and Mail reports in its Saturday edition that the U.S. Justice Department is close to dropping criminal fraud charges against Gautam Adani, an Indian billionaire who has promised to invest $10-billion in the U.S. economy (all figures U.S.). A Reuters dispatch to The Globe says Mr. Adani on Thursday resolved a related civil-fraud lawsuit brought by the Securities and Exchange Commission over an alleged scheme to bribe Indian government officials, subject to court approval. Adani Group has previously called the allegations "baseless." The possible dismissal of the criminal charges comes after Mr. Adani's lawyer, Robert Giuffra, who is also a personal attorney of President Donald Trump, told Justice Department officials in a presentation last month that Mr. Adani could not make its investment while the case was proceeding. Federal prosecutors had charged Mr. Adani in November, 2024, over an alleged scheme in which they said he agreed to pay $265-million in bribes to Indian government officials so his company could win approval to develop India's largest solar power plant. Mr. Adani and his alleged co-conspirators raised more than $3-billion by hiding their corruption from lenders and investors, prosecutors said.

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