Mahendra Makhijani of Indian origin living in America has been arrested on charges of bank fraud of about $ 100 million (about Rs 955 crore). 44-year-old Makhijani lives in Corona del Mar, California and has a US green card. If the allegations against him are proved in the court, he can be sentenced to a maximum of 30 years in jail. According to the New York Post, Makhijani is also accused of hosting sex parties and pressurizing the people who come there.
According to American officials, Makhijani is accused of causing a loss of approximately $100 million to a bank. Makhijani was arrested on the basis of the complaint. Investigating agencies allege that Makhijani falsified title insurance records. They concealed true information about pre-existing loans and claims on properties and misled the bank by using several shell companies. According to officials, approximately $100 million was obtained from the bank in this manner.
Feds bust Indian-born financier accused of defrauding $100M at his luxurious Newport Beach mansion https://t.co/1Y0wH5deJf pic.twitter.com/wBSbj7r7Wk
—California Post (@californiapost) June 10, 2026
What is the whole matter?
The investigation revealed the entire scam by investigating money transactions, transfers made through multiple accounts and different companies. According to court documents, Makhijani controls a company called Cantor Group V LLC. This company is based in Newport Beach, California and had a loan agreement with a bank. Under this agreement, the bank had given about 100 million dollars to the company, so that it could issue real estate loans or buy such loans. In return, the company had to mortgage the loan and its associated properties with the bank as security and repay the bank from the amount received from the loan.
Gave wrong answers to bank questions
The investigation has alleged that between September 2024 and April 2025, Makhijani made fraudulent changes in title insurance policies. These documents showed that his company had the first legal claim on some properties, whereas the actual situation was different.
Officials say that after preparing fake documents, Makhijani got these documents sent to the bank by one of his employees. He also participated in several online meetings and teleconferences with bank officials and gave false information to the bank’s queries. American investigative agencies allege that this entire scheme was made to obtain huge amount of money by cheating the bank. Investigation of the matter is ongoing.
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