An Indian-origin financier has been arrested in the United States for allegedly conning a bank out of almost $100 million (approximately Rs 954.2 crore) by manipulating title records of insurance policies. The accused, who is an Indian-born businessman, Mahender Makhijani, 44, has been residing in the US on a Green Card. Arrested Wednesday morning at his lavish Newport Beach residence, he could face up to 30 years in prison on conviction. The man has also been charged with a series of alleged strongarm tactics, such as bringing armed henchmen to take over hotels and a restaurant in a prestigious, upscale southern California neighbourhood, and organising sex and drugs parties.
What are the accusations against Mahender Makhijani?
“Mahender Makhijani, a lawful permanent resident from India living in Corona del Mar, was arrested this (Wednesday) morning on a federal criminal complaint charging him with defrauding a bank out of nearly $100 million,” Bilal Essayli, First Assistant US Attorney for the Central District of California, said.
The U.S. Internal Revenue Service (IRS) alleged that Makhijani manipulated title insurance documents, hid the true lien status and utilised a series of shell companies to deceive a federally insured bank.
Did Mahender Makhijani also host sex parties?
It has further been revealed from the court papers that Makhijani has organised such private parties where drugs and prostitution were part of the party. He took advantage of what happened in those parties and blackmailed the people involved in the party.
In one particular case, it was alleged that Makhijani had even threatened his employees that he would “kill” them and place their family members on the street along with “their kids on welfare.”
It may be recalled that last month an arbitrator ruled that Makhijani owes more than $1.3 billion (about Rs 12,391.6 crores) in damages related to his property transactions with businessman Mohammad Honarkar of Laguna Beach. The New York Post report cites court documents in both the cases that allege that Makhijani used violence to gain supremacy among his business rivalries, like Honarkar.
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With 13 years on the line, Ashish Kumar Singh loves everything when it comes to movies, music, travel and pop culture. Formerly employed at ANI, Pinkvilla, India Today and HT, Ashish has interviewed some of the top celebrities of India, including Shah Rukh Khan, Aamir Khan, Ranveer Singh, Ranbir Kapoor and Hrithik Roshan, among others. Breaking news excites him and deadlines are what he chases. Interviewing comes naturally to him. Hit him up at ashish.kumar02singh@gmail.com.
