Breon Peace, Attorney Behind US Indictment Of Adani Group, Resigns

Breon Peace, the attorney responsible for the US indictment of the Adani Group, announced his resignation, effective January 10. In a statement, Peace, 50, described his role as “the honor of a lifetime.” Appointed by President Joe Biden in 2021, Peace will step down just days before President-elect Donald Trump takes office on January 20. Carolyn Pokorny, the First Assistant US Attorney, will assume the role of acting US Attorney.

Adani Group Denies Bribery Allegations in US Indictment

In November, Peace’s office indicted Adani Group chairman Gautam Adani and other senior officials on charges of defrauding US investors. The indictment accuses them of concealing a bribery scheme intended to secure Indian government contracts. However, the Adani Group has firmly denied these charges.

The group rejected the bribery allegations, stating that no evidence supports them. Furthermore, the group emphasized that Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain were not involved in any bribery activities. The company also criticized what it called “incorrect” media reporting about the charges.

“The US action and false reporting have caused significant damage to the Adani Group,” the company stated. “This includes project cancellations, financial market impact, and increased scrutiny from strategic partners, investors, and the public.”

Additionally, the Adani Group clarified that the US indictment concerns only a single contract with Adani Green Energy, which accounts for roughly 10% of the subsidiary’s business. Jugeshinder Singh, the group’s CFO, confirmed that none of the 11 public companies within the Adani Group is implicated or accused of any wrongdoing.

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