The U.S. Justice Department is close to dropping criminal fraud charges against Gautam Adani, an Indian billionaire who has promised to invest $10 billion in the U.S. economy, according to two sources familiar with the matter.
Adani on Thursday resolved a related civil fraud lawsuit brought by the Securities and Exchange Commission (SEC) over an alleged scheme to bribe Indian government officials, subject to court approval. Adani Group did not respond to a request for comment from Reuters on the report of the criminal charges being dropped. It has previously called the allegations "baseless."
