Indian-Origin Man Arrested In US For Nearly $100 Million Bank Fraud

(MENAFN- AsiaNet News)

An Indian-origin lawful permanent resident has been arrested in the United States on federal charges of allegedly defrauding a bank of nearly USD 100 million by falsifying loan documents and manipulating records, according to US Attorney's Office officials. According to the US Attorney's Office for the Central District of California, the accused, Mahender Makhijani, who controlled a Newport Beach-based firm, is alleged to have misled a victim bank by falsely claiming first-lien positions on real estate loans while other creditors reportedly held priority claims. Prosecutors said the alleged fraud was carried out between September 2024 and April 2025, during which Makhijani and a subordinate are accused of forging documents using digital tools, altering metadata, and submitting fabricated records to secure financing.

Details from US Attorney's Office

In a post on X, the official account of Bill Essayli, First Assistant US Attorney for the Central District of California, shared, "Mahender Makhijani, 44, a lawful permanent resident from India living in Corona del Mar, was arrested this morning on a federal criminal complaint charging him with defrauding a bank out of nearly $100 million. Makhijani controlled Cantor Group V LLC, a Newport Beach-based company that had a lending agreement requiring it to pledge only first-lien real estate loans to the victim bank."

Alleged Methods and Potential Consequences

The US Attorney's Office further said the accused also provided misleading explanations through spreadsheets and phone calls to reinforce the false claims. If convicted, Makhijani faces up to 30 years in federal prison. He has been scheduled to make his initial court appearance in Santa Ana, California.

"Makhijani falsified title policies from September 2024 to April 2025 to make it appear Cantor held first-lien positions when other creditors were ahead. Makhijani and a subordinate forged documents in Adobe, altered metadata, and submitted the falsified records to the victim bank, while also providing misleading explanations during calls and in spreadsheets. If convicted, Makhijani faces a statutory maximum sentence of 30 years in federal prison. He is expected to make his initial appearance this afternoon in U.S. District Court in Santa Ana, California. All defendants are presumed innocent until convicted in court. Our nation's economy and welfare depend on a healthy banking system. When lenders are deceived, it has downstream effects on consumers and businesses," the post read. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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