The Justice Department is preparing to drop fraud charges against Indian billionaire Gautam Adani in a deal critics call pay-to-play. He hired one of President Donald Trump’s personal lawyers and offered a $10 billion US investment to end the case.
The reversal would close a Biden-era prosecution that accused Adani of a $265 million bribery scheme. Critics warn it points to a system that runs on connections, cash, and corporate deal-making.
How the Reversal Came Together
The shift followed Adani’s decision to retain Robert J. Giuffra Jr. to lead a new defense team. Giuffra is co-chairman of Sullivan & Cromwell and a personal attorney to Trump.
He walked prosecutors through roughly 100 slides at a previously unreported April meeting in Washington. The presentation argued the government lacked basic evidence and jurisdiction, according to a report on the The New York Times.
One slide carried an unusual proposition. If the charges were dropped, Adani would commit $10 billion to American projects and create 15,000 jobs.
He had floated the same figures in a November 2024 X (Twitter) post, days before prosecutors in Brooklyn unsealed the indictment.
Prosecutors later told Giuffra the investment pledge would not factor into the criminal resolution. Even so, at least one senior DOJ official reportedly responded favorably to the offer.
SEC and Treasury Penalties Still Loom
The billionaire is not exiting US enforcement unscathed. The Securities and Exchange Commission (SEC) is preparing a parallel civil settlement that could land as soon as Thursday.
The combined penalty would total about $18 million, split between Adani and a co-defendant.
A separate Treasury Department probe could prove far costlier. Federal officials examined whether Adani Group entities routed Iranian liquefied petroleum gas through US financial channels. That investigation could now produce a penalty of roughly $275 million.
Combined, the civil resolutions would approach $300 million. The figure still falls short of the prison exposure carried by the original indictment.
A Pay-to-Play Pattern in Trump’s Washington
Critics see the Adani reversal as part of a broader pattern. Over the past year, Trump has pardoned major donors and business associates.
His administration also disbanded the National Cryptocurrency Enforcement Team and reassigned SEC attorneys focused on crypto cases.
Similar dynamics have shaped recent resolutions. Roger Ver, known as Bitcoin Jesus, reached a tentative deal to settle tax charges for a $48 million payment.
Senate Democrats opened an inquiry into Trump’s clemency for Binance founder Changpeng Zhao.
The contrast with non-allies is sharp. The same DOJ twice indicted former FBI Director James Comey. The second case stemmed from a 2025 Instagram post featuring seashells arranged as 86 47.
Prosecutors interpreted the image as a coded threat against the president.
Officials told the Times the dismissal reflects a wider retreat from foreign bribery prosecutions, not political favors.
“The Trump Justice Department is dropping Biden-era charges against Indian billionaire Gautam Adani… If prosecutors dropped the charges, Adani would be willing to invest $10 billion in the American economy and create 15,000 jobs,” noted one user.
Adani, whose net worth is estimated at $104 billion, remains the 24th-wealthiest person in the world based on Forbes data.
How the case unraveled may shape how defendants approach federal investigations under Trump’s second term.
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