New Delhi, Dec 20 (NationPress) The indictment of Adani Group officials by the US Department of Justice (DoJ) concerning an alleged bribery scandal is described as 'extremely flimsy' by senior advocate Mahesh Jethmalani on Friday, coinciding with the resignation announcement of Breon Peace, the US Attorney who initiated the case.

Reports indicate that Brooklyn US Attorney Peace, who filed charges against the Adani Group officials, is set to resign on January 10, just days prior to Donald Trump’s inauguration as the next US President on January 20.

Peace, appointed by the outgoing US President Joe Biden in 2021, will be succeeded by First Assistant US Attorney Carolyn Pokorny.

Jethmalani stated, 'The Adani case in US court was already a very diluted case. There was no evidence or basis to the indictment. The uproar by the Opposition over the issue in the Indian Parliament is baseless.'

Peace's resignation was anticipated, as he was likely to be asked to resign by the incoming US administration under Trump.

Last week, Adani shares surged following the announcement of FBI Director Chris Wray's resignation, which is set to take place early next year after the US President-elect replaces him with Kash Patel.

Despite previous allegations from hedge funds, the Adani Group has made a significant recovery in the stock market, and industry experts believe the US Justice Department’s indictment will soon lose its impact.

In November, the DoJ formally indicted Adani Group officials on various allegations, including securities fraud and wire fraud. The Adani Group has strongly denied these allegations, labeling them as 'malicious, mischievous and manipulative selections of publicly available information' aimed at reaching 'predetermined conclusions for personal profiteering with wanton disregard for facts and the law.'

The indictment from the US DoJ has been described as nothing more than a 'wasted expense', with ace global investor Mark Mobius recently telling IANS that such wasteful government exercises involving overseas businesses are likely to decline once Trump takes office.