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A US District judge, Nicholas Garaufis, dismissed conspiracy, securities, and wire fraud charges against Adani Group Chairman Gautam Adani and his nephew, Sagar Adani in Brooklyn, New York, on Monday, August 10.
The billionaire welcomed the news on his social media handle on "X", stating that their faith in truth, fairness, and rule of law during this challenging period remained unwavering.
Judge Garaufis said that the charges against Gautam Adani and his nephew would be dismissed "with prejudice", meaning that the government cannot revive the case.
The charges against Adani and his nephew had resulted in an indictment during the outgoing days of the Biden administration in late-2024.
Earlier this year, Adani Enterprises had agreed to a $275 million settlement with the Office of Foreign Assets Control (OFAC) of the US treasury department to resolve potential civil liabilities for 32 apparent violations of the US sanctions on Iran, involving potential LPG purchases.
Adani and his nephew also finalized a civil fraud settlement in May this year with the US Securities and Exchange Commission (US SEC), under which Gautam Adani agreed to pay $6 million, while Sagar Adani agreed to pay $12 million, to resolve allegations of misleading investors.
However, the judge went on to add that he would not dismiss violations of US anti-bribery laws and obstruction of justice against five other co-defendants in the case, asking the government for further explanation as to why it wants to dismiss these charges.
Garaufis had earlier said in June that the government had failed to justify its request of dismissing the case, asking prosecutors to explain their decision in writing, and also sought more details from Adani, which was provided as well.
Shares of Adani Group companies would be reacting to this news on market open on Tuesday, August 11.
The billionaire welcomed the news on his social media handle on "X", stating that their faith in truth, fairness, and rule of law during this challenging period remained unwavering.
I
welcome the US court’s decision with humility and deep respect for the judicial process.
Throughout this challenging period, our faith in truth, fairness and the rule of law remained unwavering.
My deepest gratitude to those who never lost faith in us, in the system and in…
— Gautam Adani (@gautam_adani) August 10, 2026
Judge Garaufis said that the charges against Gautam Adani and his nephew would be dismissed "with prejudice", meaning that the government cannot revive the case.
The charges against Adani and his nephew had resulted in an indictment during the outgoing days of the Biden administration in late-2024.
Earlier this year, Adani Enterprises had agreed to a $275 million settlement with the Office of Foreign Assets Control (OFAC) of the US treasury department to resolve potential civil liabilities for 32 apparent violations of the US sanctions on Iran, involving potential LPG purchases.
Adani and his nephew also finalized a civil fraud settlement in May this year with the US Securities and Exchange Commission (US SEC), under which Gautam Adani agreed to pay $6 million, while Sagar Adani agreed to pay $12 million, to resolve allegations of misleading investors.
However, the judge went on to add that he would not dismiss violations of US anti-bribery laws and obstruction of justice against five other co-defendants in the case, asking the government for further explanation as to why it wants to dismiss these charges.
Garaufis had earlier said in June that the government had failed to justify its request of dismissing the case, asking prosecutors to explain their decision in writing, and also sought more details from Adani, which was provided as well.
Shares of Adani Group companies would be reacting to this news on market open on Tuesday, August 11.
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