The New York Times reported Thursday that the US Department of Justice (DOJ) was planning to drop criminal charges against Adani Group Chairman Gautam Adani following discussions linked to a proposed $10-billion investment in the US, a move that could bring an abrupt end to one of the most high-profile corporate fraud investigations involving an Indian business group in recent years.

The reversal came after Gautam Adani hired a new legal team led by Robert J Giuffra Jr., one of President Donald Trump’s personal lawyers and the co-chairman of the prominent firm Sullivan & Cromwell, according to the NYT.

The criminal charges against Adani stemmed from an indictment unveiled by US prosecutors in November 2024. It accused Adani, his nephew Sagar Adani and several associates of orchestrating a massive bribery scheme involving approximately $265 million in payments to Indian government officials.

The report said Giuffra’s efforts on Adani’s behalf culminated in a previously unreported meeting last month at the Justice Department’s headquarters in Washington. “Giuffra ticked through about 100 slides outlining why prosecutors lacked basic evidence, as well as the jurisdiction even to bring the case,” the report stated.

“Another slide also made an unusual offer: If prosecutors dropped the charges, Adani would be willing to invest $10 billion in the American economy and create 15,000 jobs, echoing a pledge he had made in the wake of Trump’s election,” it stated.

The Adani Group did not respond to an email from The Indian Express seeking its response on the report.

As part of the same meeting, the NYT said, Giuffra sought to resolve a parallel civil case against Adani brought by the Securities and Exchange Commission, as well as a separate investigation by the Treasury Department. Both agencies are now preparing to strike settlements with Adani and impose financial penalties, the report said.

While prosecutors maintained that the investment proposal would “play no role” in the outcome of the proceedings, sources cited by the NYT said the offer received a “favourable response” from DOJ officials.

Prosecutors earlier alleged that the payments were intended to secure lucrative solar energy contracts that could generate close to $2 billion in profits over a 20-year period while supporting the construction of one of India’s largest renewable energy projects.

US authorities have alleged that Gautam Adani, Sagar Adani and former Adani Green Energy chief executive Vneet Jaain raised more than $3 billion through loans and bond offerings from international investors while concealing details of the alleged corruption scheme. Prosecutors charged the trio with securities fraud, conspiracy to commit securities fraud and wire fraud conspiracy.

Parallel civil proceedings were also initiated by the US Securities and Exchange Commission (SEC), which accused the executives of misleading investors and hiding corruption risks associated with the company’s operations.

Last year, the SEC sought assistance from India’s Ministry of Law and Justice regarding a complaint against Gautam Adani and Sagar Adani in the alleged violation of securities laws. The SEC had accused the Adanis of “recklessly making false and misleading representations” concerning Adani Green Energy’s debt offering.

The case extended beyond the Adani family and included several international executives. Among those charged were former executives of Azure Power Global.

At the time the indictment was announced, none of the accused were in US custody. The then US Attorney Breon Peace had stated that arrest warrants had been secured for Gautam and Sagar Adani and would be shared with international law enforcement agencies.

Adani and his associates have consistently denied all allegations, arguing that the charges are baseless and politically motivated. The company has also maintained that it complied with all disclosure requirements and corporate governance standards.