"The US Department of Justice is dropping its fraud charges against the Indian billionaire Gautam Adani, the richest man in Asia, after he hired a new legal team led by Donald Trump's personal lawyer, according to new reports. In an undisclosed April meeting at the justice department, Trump's personal lawyer, Robert J Giuffra Jr, said that Adani would invest $10bn in the US economy and create 15,000 jobs if prosecutors dropped the charges against him, according to the New York Times and Bloomberg."
"Guiffra also reportedly had a presentation of 100 slides that explained why prosecutors lacked evidence and jurisdiction over the case, according to the Times. Prosecutors said that the potential investment would not sway the outcome of the case, but the offer received favorable response from one senior justice department official, the outlets reported."
"Adani was accused of conspiring to pay $250m in bribes to Indian government officials and misleading American and international investors with false statements. He and two other executives of an Indian renewable energy company were indicted in New York and charged with multiple counts of fraud in November 2024. At the time, the justice department said that in addition to paying $250m in bribes, Adani also schemed to lie to investors and banks to raise billions of dollars, and to obstruct justice."
"These offenses were allegedly committed by senior executives and directors to obtain and finance massive state energy supply contracts through corruption and fraud at the expense of US investors, said Lisa Miller, the deputy assistant attorney general at the time. Adani is considered one of the wealthiest and most powerful men in the world as the founder of Adani Group, a conglomerate that operated India's ports, built coal-fired power stations and opened coalmines in the country."
The US Department of Justice dropped fraud charges against Indian billionaire Gautam Adani. Adani hired a new legal team led by Robert J. Giuffra Jr, Donald Trump’s personal lawyer. In an April meeting at the justice department, Giuffra reportedly offered Adani would invest $10bn in the US economy and create 15,000 jobs if prosecutors dismissed the case. Giuffra also reportedly presented 100 slides arguing prosecutors lacked evidence and jurisdiction. Prosecutors said the investment offer would not affect the case outcome, but one senior justice department official responded favorably. Adani faced allegations of conspiring to pay $250m in bribes, misleading investors, and obstructing justice, with indictments filed in New York in November 2024.
#us-department-of-justice #fraud-charges #gautam-adani #legal-negotiations #bribery-and-investor-deception
Read at www.theguardian.com
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