U.S. Attorney Breon S. Peace, who indicted Adani, set to resign as Donald Trump takes office

Adani’s massive corruption saga appears to have added a new chapter as the U.S. Attorney for the Eastern District of New York, Breon S. Peace, said he will resign from office on January 10, 2025.

Adani accuser must resign

Breon S. Peace is the lawyer charged with indicting Adani Group Chairman Gautam Adani and his associates Sagar Adani and Vneet Jaain.

This resignation comes as US President-elect Donald Trump, winner of the November 5 US presidential election, is ready to return to the White House. Trump will be inaugurated for his second term in the Oval Office on January 20. Peace will leave office 10 days before Trump’s big day.

This comes as Trump, who has been maneuvering his incoming administration, has named controversial names to his cabinet. Previously, he also said he would fire the entire team, as well as special prosecutor Jack Smith, who had filed charges against him.

Smith was then quick enough to drop charges against Donald Trump.

Adani’s indictment

It was in November 2024 that the United States Federal Court issued an indictment in which Adani was accused of massive corruption. In this case, Adani and Co. were accused of bribing officials from 5 Indian states to get better deals on renewable energy projects.

In return, American authorities accused Adani of misleading American investors and global financial institutions.

The leaders of the conglomerate were accused of 5 different counts.

The consequences

This caused an uproar in the public domain. And the stock markets were no different, as Adani shares crashed in the following days. All major Adani companies, especially Adani Energy and Adani Green, have seen a mass exodus of investors from the company’s shares. It also sparked a political storm, with many people demanding action against Adani.