A Legal citizen of India currently living in the US has allegedly defrauded US banks of $ 100 million, says the US Department Of Justice

Mahender Makhijan, a 44- year-old California based Indian business man, was arrested in the US for allegedly defrauding US banks for $100 million.

According to the U.S. Department of Justice, Makhijan was arrested on Wednesday on a criminal complaint charging him with bank fraud. The accused was detained at his Newport Beach mansion by federal agents.

According to the allegations, Makhijani manipulated title insurance records and misrepresented the status of real-estate-backed loans pledged as collateral to the bank, which caused them a loss of $100 million.

As per the Tweet of US First Assistant United States Attorney Bill Essayl, "Mahender Makhijani, 44, a lawful permanent resident from India living in Corona del Mar, was arrested this morning on a federal criminal complaint charging him with defrauding a bank out of nearly $100 million. Makhijani controlled Cantor Group V LLC, a Newport Beach-based ing agreement requiring it to pledge only first-lien real estate loans to the victim bank."

Essayl stated that Makhijani falsified title policies from September 2024 to April 2025 to make it appear Cantor held first-lien positions when other creditors were ahead.

In the tweet, Essayl also mentioned that if convicted, Makhijani can face imprisonment of up to 30 years.

"If convicted, Makhijani faces a statutory maximum sentence of 30 years in federal prison. He is expected to make his initial appearance this afternoon in U.S. District Court in Santa Ana, California. All defendants are presumed innocent until convicted in court."

The Attorney says that the USA economy depends on a healthy banking system, and when leaders are deceived, it has a downstream effect on consumerism and businesses.