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A 44-year-old Indian-American man was arrested in California for allegedly defrauding a financial institution of practically $100 million by manipulating title information of insurance coverage insurance policies.
Mahender Makhijani has been residing within the U.S. on a Inexperienced Card and faces a most sentence of 30 years in jail if convicted.
“Mahender Makhijani, a lawful everlasting resident from India residing in Corona del Mar, was arrested this Wednesday (June 10, 2026) morning on a federal legal criticism charging him with defrauding a financial institution out of practically $100 million,” Bilal Essayli, First Assistant U.S. Legal professional for the Central District of California, mentioned.
As alleged, Makhijani falsified title insurance coverage information, hid true lien positions, and used a community of shell firms to mislead a federally insured financial institution out of practically $100 million,” mentioned Darren Lian, Performing Particular Agent in Cost, Inside Income Service – Felony Investigation (IRS-CI)’s Los Angeles Subject Workplace.
In a press release on Wednesday (June 10, 2026), Mr. Essayli mentioned the arrest highlighted his workplace’s continued willpower to fight threats to the nation’s banking system.
“Our particular brokers adopted the cash via layered transfers and disguised accounts, uncovering a scheme designed to deceive at each flip. When people manipulate paperwork and abuse monetary programs for private acquire, IRS-CI will expose the reality and guarantee they’re held accountable,” Mr. Lian mentioned.
In keeping with an affidavit filed with the criticism, Makhijani controls Cantor Group V LLC, a Newport Seashore-based firm with a lending relationship with the Financial institution. Underneath the phrases of their settlement, the Financial institution superior practically $100 million to Cantor to originate or purchase loans secured by actual property.
Cantor Group was presupposed to then pledge the loans it secured, and their underlying collateral, to the Financial institution, paying again the financial institution from the loans’ proceeds. From September 2024 to April 2025, Makhijani allegedly falsified title insurance coverage insurance policies to make them state that Cantor Group was within the first lien place with respect to sure actual property serving as collateral.
After falsifying the title insurance policies, Makhijani induced his then-employee to submit the false title insurance coverage insurance policies to the Financial institution. Makhijani additionally allegedly engaged in a number of teleconferences with the Financial institution’s representatives and lied in regards to the title points that the Financial institution had recognized.
Revealed – June 11, 2026 03:36 pm IST