US Seeks to Drop Criminal Charges Against Gautam Adani (1)

The US Justice Department on Monday sought to drop criminal charges against Indian billionaire Gautam Adani, taking him closer to resolving a long-running saga that once threatened the future of his giant conglomerate.

Adani Group’s flagship Adani Enterprises Ltd. also agreed to pay $275 million to settle a probe by the Treasury Department’s Office of Foreign Assets Control that related to Iran sanctions violations. Those allegations had involved the company’s purchases of liquefied petroleum gas that originated from Iran.

Together with last week’s move by the Securities and Exchange Commission to settle a civil fraud case against Adani and ...