US Judge Dismisses Fraud Charges Against Gautam AdaniWASHINGTON, DC -A US judge has dismissed criminal fraud charges against Indian billionaire Gautam Adani and two other executives after the US Justice Department abandoned its prosecution. US District Judge Nicholas Garaufis on August 10 dismissed with prejudice securities fraud, wire fraud conspiracy and securities fraud conspiracy charges against Gautam Adani, Sagar Adani and Vneet Jaain. Garaufis accepted the Justice Department’s narrow argument that the corporate statements cited in the indictment could be considered vague assurances or “inactionable puffery” rather than material misrepresentations. The judge ordered the Justice Department to provide sufficient factual support for dismissing those charges by August 31. Garaufis also stressed that dismissing the fraud charges should not be taken as agreement with the department’s decision or as an opinion on the merits of the allegations.