New Delhi: The US Department of Justice on Monday cleared all criminal charges against Indian business tycoon Guatam Adani and nephew Sagar bringing a permanent closure to all the fraud cases in New York after prosecutors urged the dismissal of the indictment with prejudice. A settlement of $275 million was released with regulators giving credit for cooperation, voluntary engagement and corrective steps.
U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) said the Indian conglomerate extended “extensive cooperation” with the investigation and made “proactive” disclosures helming the settlement. “AEL agreed to settle its potential civil liability for 32 apparent violations of OFAC’s Iran sanctions,” OFAC said.
“None of the parties involved in AEL’s LPG imports were sanctioned at the time of the LPG shipments, and none of the documentation provided to AEL contained any information explicitly pointing to Iranian origin of the LPG,” the OFAC order detailing the settlement said.
Adani Enterprises, from November 2023- June 2025 reportedly procured shipments of liquefied petroleum gas (LPG) from a Dubai-based trader purporting to supply Omani and Iraqi gas that had actually originated from Iran.
Earlier, the U.S. Securities and Exchange Commission settled civil allegations against the two men tied to disclosures made to investors in connection with solar energy projects in India. Court filings showed Gautam Adani agreed to pay $6 million and Sagar Adani $12 million, without admitting or denying wrongdoing.
The settlement came as part of US authorities nearing a wider resolution with Adani that also involves the Justice Department dismissing criminal fraud charges and the Treasury Department imposing a civil penalty for violating sanctions on Iran.
With the DOJ, SEC and OAFC matters resolved, the group draws a clear line of sustained scrutiny and shifts business back to full operations.
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