U.S. prosecutors alleged that Gautam Adani and seven others took part in a scheme to pay more than $250 million in bribes to Indian government officials to secure solar-energy contracts, then misled investors and lenders about the alleged arrangement. Those claims were allegations in a 2024 criminal indictment, not findings of guilt. In a separate civil case, the SEC later sought consent judgments against Gautam and Sagar Adani. Criminal-case developments reported in August 2026 included dismissals for Adani and several co-defendants, but the material available here does not establish what happened after an August 31 deadline for the remaining counts.
What the 2024 indictment alleged
The U.S. Department of Justice announced on November 20, 2024, that a five-count indictment had been unsealed in federal court in Brooklyn. The case, United States v. Adani et al., was filed in the Eastern District of New York on October 24, 2024, as docket 24-CR-433.
Prosecutors alleged that, from approximately 2020 through 2024, the defendants agreed to pay more than $250 million in bribes to Indian government officials in exchange for solar-energy supply contracts with the Indian government. The DOJ said the contracts were projected to generate more than $2 billion in after-tax profits over approximately 20 years. Both figures describe the government’s allegations and projections; neither establishes that bribes were paid or that the projected profits were realized.
The DOJ named eight defendants: Gautam S. Adani, Sagar R. Adani, Vneet S. Jaain, Ranjit Gupta, Rupesh Agarwal, Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra. The indictment included conspiracy allegations involving securities and wire fraud, securities fraud, violations of the Foreign Corrupt Practices Act (FCPA), and obstruction. The defendants did not all face the same counts.
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What prosecutors alleged about investors and lenders
The indictment went beyond the alleged exchange for solar contracts. Prosecutors alleged that Gautam Adani, Sagar Adani and Vneet Jaain misrepresented anti-bribery practices and concealed the alleged scheme from investors and financial institutions while seeking financing.
The DOJ described two syndicated loans totaling more than $2 billion and two Rule 144A bond offerings totaling more than $1 billion. These are financing amounts cited in the criminal allegations; they are not the alleged bribe total. Prosecutors also alleged that four defendants conspired to obstruct investigations by deleting electronic materials, withholding information from an internal investigation and making false denials to investigators.
When announcing the indictment, then-U.S. Attorney Breon Peace characterized the allegations as a scheme to secure contracts and raise capital, while then-Deputy Assistant Attorney General Lisa H. Miller described alleged bribes, lies to investors and banks, and obstruction. Those were statements by officials presenting the prosecution’s case, not findings by a court.
How the separate SEC civil case differs
The Securities and Exchange Commission announced a separate civil action on November 20, 2024. Its complaint against Gautam and Sagar Adani alleged misleading statements about anti-corruption compliance in connection with Adani Green’s September 2021 note offering. The SEC said that offering raised $750 million, including approximately $175 million from U.S. investors. Those amounts relate to the offering, not to the alleged bribes in the criminal case.
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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallOn May 14, 2026, the SEC asked a court to enter consent judgments against the two Adanis. The proposed judgments would impose civil penalties of $6 million for Gautam Adani and $12 million for Sagar Adani and permanently enjoin specified securities-law violations if approved. The SEC said the defendants consented without admitting or denying the complaint’s allegations. The May release establishes that the SEC requested the judgments; it does not establish that the court approved them.
| Proceeding | What it concerns | Status established by the cited material |
|---|---|---|
| DOJ criminal case | Indictment allegations about bribery, contracts, financing disclosures and obstruction; multiple defendants and counts | CBS News reported partial dismissals on August 10, 2026; later docket activity is not established here |
| SEC civil case | Alleged misleading anti-corruption statements tied to Adani Green’s September 2021 note offering | On May 14, 2026, the SEC sought consent judgments; court approval is not established here |
What happened to the criminal charges
CBS News reported on July 9, 2026, that Judge Nicholas G. Garaufis asked Gautam Adani to answer questions about whether anything had been promised, offered, sought, received, agreed to or accepted in connection with dismissal of the indictment. On August 10, CBS reported that Adani told the judge no such arrangement existed.
In its August 10 report, CBS said the judge dismissed criminal charges against Adani and several co-defendants after the DOJ sought dismissal. The judge did not at that point dismiss two counts against five other co-defendants, concluding that the government had not provided sufficient reasons for doing so. CBS reported that the DOJ had until August 31 to provide its reasons. The material available here does not establish what happened on or after that deadline, so it cannot support a claim about the criminal case’s final disposition.
CBS also quoted the judge’s written criticism of the dismissal process: “The irregularities in the decision to dismiss the indictment are concerning.” The judge wrote that, on the record then before him, a DOJ official “appears to have eschewed the professional opinions of innumerable officials from various federal offices and replaced them with his singular judgment.” These reported comments concern the government’s process for seeking dismissal; they are not findings that the original bribery allegations were true.
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What the allegations and dismissals do—and do not—establish
- The more-than-$250-million figure is the amount prosecutors alleged was involved in a bribery arrangement, not an amount established as paid by a court.
- The indictment set out allegations concerning solar contracts, investor and lender disclosures, and obstruction; it did not establish guilt.
- The August 10, 2026, report described dismissals for Adani and several co-defendants, while two counts against five other defendants remained unresolved at that time.
- The SEC matter is a civil proceeding separate from the DOJ prosecution. A request for consent judgments is not the same as a court-approved judgment, and the SEC said the Adanis consented without admitting or denying the complaint’s allegations.
The DOJ stated when it announced the indictment that the charges were allegations and that defendants are presumed innocent unless and until proven guilty. The later reported dismissals do not, by themselves, establish that the alleged conduct occurred or did not occur.
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