US Attorney Behind Adani Case To Resign On January 10

Brooklyn US Attorney Breon Peace, who presented charges against Adani Group Chairman Gautam Adani, has said that he will step down on January 10, 2025, reported Bloomberg on Friday.

Peace, who was appointed by Joe Biden in 2021, will be replaced by First Assistant US Attorney Carolyn Pokorny before President-elect Donald Trump takes charge of office on January 20.

In a statement, Peace said, “It has been the honor of a lifetime to serve as United States Attorney, to be at the forefront in protecting the over eight million residents of this great district from harm, in upholding the rule of law and promoting civil rights and dignity for all people."

"As United States Attorney, I have had the singularly rewarding experience of being called to public service and leadership in a district that is filled with people of different backgrounds and life experiences – yet share a common bond of humanity”, Peace added.

The Adani Group stocks reacted positively to the news. 10 out of 11 listed stocks in the pack rose in the range of 0.02% to 2.82%. The 11 stocks of the ports-to-power conglomerate added Rs 18,775 crore to investors' wealth, as market cap between them rose to Rs 13.13 lakh crore.

It is noteworthy that on Dec. 12, Adani Group stocks had surged after the current FBI Director Chris Wray announced he would step down from his position early in 2025.

Adani was indicted by Peace's office last month. However, the Adani Group has said that he is working through the legal process “to reconfirm our absolute commitment to world-class regulatory compliance.”