The United States Justice Department is preparing to withdraw all fraud charges against Indian billionaire Gautam Adani, chairman of the Adani Group, according to reports citing individuals familiar with the case. The decision follows Adani’s appointment of a new legal team led by Robert J. Giuffra Jr., one of former President Donald Trump’s personal attorneys. The team presented its case at a meeting in Washington, arguing that prosecutors lacked sufficient evidence and jurisdiction to pursue the matter.

During the same meeting, Giuffra proposed that if prosecutors dropped the charges, Adani would invest 10 billion dollars in the US economy and create 15,000 jobs, though officials later clarified that this offer would not influence the criminal case. The Securities and Exchange Commission (SEC) has already settled its civil dispute with Adani, imposing an 18 million dollar fine, of which Adani will pay six million. The Treasury Department is reportedly preparing a separate 275 million dollar penalty related to sanctions violations.

If finalized, the resolution would mark a major victory for the Adani Group, which has faced business obstacles due to the case since 2024.