U.S. Justice Department drops all charges against Gautam Adani; case closed permanently

The U.S. Department of Justice has permanently dropped all criminal charges against Indian tycoon Gautam Adani and his nephew Sagar, bringing the high-profile securities and wire fraud case in New York to a complete close after prosecutors concluded they could not sustain the allegations.

Court filings showed Gautam Adani agreed to pay $6 million and Sagar Adani $12 million, without admitting or denying wrongdoing. With this, multiple U.S. regulatory and legal investigations involving the group have all closed in the last couple of days.