India, May 15 -- In a relief for Indian billionaire Gautam Adani, the U.S. Justice Department is likely to drop criminal fraud charges against the Adani Group chairman, according to several media reports.

Adani had reportedly promised to invest $10 billion in the American economy.

The reported relief comes more than a year after U.S. prosecutors in New York indicted Adani and several others over an alleged bribery scheme linked to solar power contracts in India.

Adani, along with seven others, was accused of paying bribes amounting to Rs 2,029 crore ($265 million) to Indian officials to secure solar power contracts across four states and one union territory.

Among those implicated was Sagar Adani, Gautam Adani's nephew.

The allegatio...