Considering the vast majority of the Indian population in the United States, there have been several cases of bank frauds and medical frauds concerning the Indian folk.
We now have a shocking addition to the list as an Indian origin medical company CEO is finding himself facing up to 5 years in jail and a fine of $125 million, which converts to ₹240 crore.
As per the latest information from the United States department of Justice, Parmjit Parmar, 55, who’s a native of Colts Neck, New Jersey, had pleaded guilty on May 7, 2025, before U.S. District Judge Madeline Cox Arleo.
He pleaded guilty in Newark federal court to conspiracy to commit securities fraud. Parmar, former CEO of Constellation Healthcare Technologies, faked bank records and customers to inflate revenues, defrauding investors of over $200 million.
Parmar was sentenced to 60 months imprisonment, three years supervised release, and ordered to pay more than $125 million (240cr in indian currency) in victim restitution.
This post was last modified on 15 May 2026 11:42 am
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