The Trump administration has decided to drop the fraud charges against Indian billionaire Gautam Adani.

The administration of President Donald Trump announced the withdrawal of criminal fraud charges against Indian billionaire Gautam Adani, a close associate of Prime Minister Narendra Modi, and closed investigations related to alleged violations of sanctions against Iran.

The U.S. Department of Justice requested in court the dismissal of the charges after Adani's lawyer communicated that the billionaire intends to invest 10 billion dollars in the United States but cannot proceed with projects due to active legal cases.

Adani, with an estimated net worth of 82 billion dollars, had been accused of bribery of 265 million dollars to obtain the necessary approvals for the development of a solar power plant in India. Additionally, Adani Enterprises will pay 275 million dollars to close an investigation regarding violations of sanctions against Iran.

The company announced that it has ceased imports of LPG from Iran and has implemented compliance measures. The U.S. Securities and Exchange Commission has also reached an agreement to close the civil case against Adani, which is awaiting court approval.