<\/p>\n
A California man is facing federal charges for allegedly defrauding a bank out of nearly $100 million.<\/p>\n
The U.S. Department of Justice says<\/a>\u00a044-year-old Mahender Makhijani of Corona del Mar orchestrated a scheme involving manipulated title policies and shell companies.<\/p>\n Prosecutors allege he falsified title insurance records, concealed true lien positions and used a network of shell companies to make collateral pledged to a federally insured bank appear more valuable than it was.<\/p>\n He was arrested on a federal criminal complaint charging him with bank fraud.<\/p>\n The complaint, filed in the U.S. District Court in Santa Ana, details how Makhijani misled the bank regarding the value of assets securing loans.<\/p>\n Says acting Special Agent in Charge Darren Lian of IRS Criminal Investigation\u2019s Los Angeles Field Office,<\/p>\n \u201cOur special agents followed the money through layered transfers and disguised accounts, uncovering a scheme designed to deceive at every turn. <\/em><\/p>\n When individuals manipulate documents and abuse financial systems for personal gain, IRS CI will expose the truth and ensure they are held accountable.\u201d<\/em><\/p>\n If convicted, bank fraud carries a maximum penalty of 30 years in prison.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A California man is facing federal charges for allegedly defrauding a bank out of nearly $100 million. The U.S. Department of Justice says\u00a044-year-old Mahender Makhijani of Corona del Mar orchestrated a scheme involving manipulated title policies and shell companies. Prosecutors allege he falsified title insurance records, concealed true lien positions and used a network of […]<\/p>\n","protected":false},"author":2,"featured_media":430749,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-430747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/430747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=430747"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/430747\/revisions"}],"predecessor-version":[{"id":430750,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/430747\/revisions\/430750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/430749"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=430747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=430747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=430747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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