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Judge drops Adani bribery case, flags DOJ conduct
['Marina Meireles']
MINING.COM
A US judge dismissed bribery and fraud charges against Indian billionaire Gautam Adani while questioning the Justice Department’s “highly unusual” decision to abandon the case.
“The irregularities in the decision to dismiss the indictment are concerning,” US District Judge Nicholas Garaufis wrote in his ruling.
McCotter made the decision largely in collaboration with Adani’s defence counsel and without input from federal prosecutors or agents who investigated the case, Garaufis said.
Garaufis countered that US-related terms appeared 218 times, undermining the argument that word counts established the case as predominantly foreign.
Adani Group announced nearly $15 billion in investment commitments across its businesses last month and increased a planned share sale by 50% to $1.6 billion, signalling renewed investor appetite.