USA: Indian Origin Businessman Arrested For 950Cr Bank Fraud

Another news about an Indian origin individual getting arrested in USA for orchestrating a financial fraud has come to light. 

Going into the story, Mahender Makhijani, a 44-year-old Indian-born financier and U.S. Green Card holder, was arrested by federal authorities at his luxury mansion in Corona del Mar, Newport Beach in California. He is facing serious federal charges for allegedly committing a massive scheme that defrauded a federally insured bank out of nearly $100 million (approximately ₹954 crore). 

Known for leading an extravagant lifestyle by travelling in expensive private jets and living in mansions across the globe, Mahender is now likely to face up to 30 years in federal prison if he gets convicted for all charges leveled against him in this multi crore scam. 

According to federal court documents, Makhijani ran a Newport Beach-based company called Cantor Group V LLC. His business secured a line of credit from a federally insured bank, which advanced nearly $100 million to help the company buy or fund real estate loans.

However, investigators say that between September 2024 and April 2025, Makhijani and a subordinate manipulated title insurance documents and metadata. They have allegedly falsified records and transferred the cash through a web of shell companies and layered bank transfers to keep the money hidden.

Prosecutors allege he spent millions on private jets, designer clothes, and ultra-luxury cars, including a Bentley, a Porsche, and a Mercedes G-Wagon. He also maintained two side-by-side mansions in the elite neighborhood of Corona del Mar.

Court filings state that Makhijani hosted private, drug-fueled parties involving sex workers, which were attended by bank employees and associates. Prosecutors claim he later used what happened at these parties to pressure and blackmail participants into compliance.

He is also accused of using armed henchmen to forcefully seize restaurants and hotels in affluent Southern California neighborhoods.