The administration of US President Donald Trump has moved to dismiss criminal fraud charges against Indian billionaire Gautam Adani, who was accused of bribing Indian officials for as much as $265 million to secure contracts and lying to US investors about a solar energy project in India.

The US Department of Justice (DOJ) filed a letter requesting the dismissal, stating it had decided not to devote further resources to the case. A judge must still approve the request. The case was originally brought under former President Joe Biden's administration.

Prosecutors alleged that Adani and his co-conspirators orchestrated an elaborate bribery scheme to win contracts worth billions of dollars and misled US investors, raising over $3 billion in the process. Adani Green Energy was accused of bribing officials to win the contract for India's largest solar power plant.

The dismissal comes amid changes in Adani's legal team. He hired Robert J. Giuffra Jr, one of President Trump's personal attorneys, who announced that Adani pledged a $10 billion investment in the US, potentially creating 15,000 jobs. According to Reuters, Adani said he wanted to invest but could not while the cases proceeded.

Separately, the US Treasury Department announced a $275 million settlement with Adani over alleged sanctions violations involving Iran. The company was accused of purchasing liquefied petroleum gas originating from Iran via a Dubai-based trader.

The US Securities and Exchange Commission (SEC) also settled a civil suit with Adani last week, requiring Gautam Adani and Sagar Adani to pay civil penalties of $6 million and $12 million, respectively, pending court approval.

Source: www.aljazeera.com