Bloomberg reported that U.S. authorities are moving to resolve fraud charges against Indian billionaire Gautam Adani. Sources told Bloomberg the Justice Department could announce this week that it will drop the charges. Reuters could not immediately verify the report, which is based on unnamed sources. The situation remains provisional pending any official announcement.
Bloomberg: U.S. Authorities May Move To Drop Fraud Charges Against Gautam Adani
FILE PHOTO: The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, November 21, 2024. REUTERS/Amit Dave/File Photo
May 14 (Reuters) - U.S. authorities are reportedly moving toward resolving fraud charges that were brought against Indian billionaire Gautam Adani, Bloomberg News reported on Thursday.
People familiar with the matter told Bloomberg that the U.S. Department of Justice could announce this week that it will drop the charges. Bloomberg did not provide additional details about the scope of the case or the reasons behind a potential decision.
Verification And Context
Reuters could not immediately verify Bloomberg's report. The story currently rests on unnamed sources and should be treated as provisional until an official statement is made by the Justice Department or other authorities.
Adani is a prominent Indian industrialist whose conglomerate has interests in ports, energy, logistics and infrastructure. Any official move by U.S. authorities could have implications for markets and stakeholders connected to his businesses.
Reporting: Anusha Shah in Bengaluru
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