Indian-American Arrested for Alleged $100 Million Bank Fraud

An Indian-American individual has been taken into custody in California, accused of defrauding a financial institution of approximately $100 million. Mahender Makhijani, aged 44, who resides in Corona del Mar and holds a Green Card, was arrested on June 10, 2026, according to a federal criminal complaint.

Bilal Essayli, First Assistant U.S. Attorney for the Central District of California, stated, "Mahender Makhijani, a lawful permanent resident from India living in Corona del Mar, was arrested Wednesday morning for defrauding a bank out of nearly $100 million."

The allegations against Makhijani involve manipulating title insurance records and using shell companies to conceal the real lien positions. Darren Lian, Acting Special Agent in Charge of the Internal Revenue Service - Criminal Investigation (IRS-CI) in Los Angeles, remarked, "Our special agents followed the money through layered transfers and disguised accounts, uncovering a scheme designed to deceive at every turn."

The case highlights the ongoing efforts by federal authorities to protect the nation's banking system. The complaint details how Makhijani controlled a company named Cantor Group V LLC, based in Newport Beach, which had a financial agreement with the bank. This involved the bank lending nearly $100 million to Cantor to originate or purchase loans secured by real estate.

Makhijani allegedly falsified title insurance policies to create the impression that Cantor Group held a first lien position concerning certain real estate assets. From September 2024 to April 2025, he purportedly directed an employee to submit these misleading documents to the bank while communicating deceitfully with its representatives regarding identified title issues.

If convicted, Makhijani could face up to 30 years in prison, underscoring the seriousness of the charges related to financial fraud.