Adani Brothers Cleared of Criminal Charges in US Court

On Monday, a US court ended the long legal saga surrounding Gautam and Sagar Adani by dismissing all criminal charges against the two men and their associate Vneet Jaain at the request of the US government. Judge Nicholas Garaufis of the United States District Court for the Eastern District of New York dismissed criminal charges against the Adanis related to securities and wire fraud with prejudice - meaning that prosecution in the cases cannot be opened again - even as his judgement expressed concern at “irregularities” in the Trump Justice Department’s decision to cease pursuing charges against the Adanis. Separately, the court also finalised a settlement between the Adanis and the US Securities and Exchange Commission which will see the former pay the US government $18 million without admitting guilt and formally settle the civil securities fraud charges against them.

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