Who Is Mahender Makhijani? California Financier Faces Nearly $100 Million Bank Fraud Charge – Obnews
Mahender Makhijani, an Indian origin businessman based in California, has been charged with bank fraud in a federal case involving allegations that nearly $100 million in financing was obtained using manipulated real estate documents.
The United States Department of Justice said Makhijani, 44, of Corona del Mar, was arrested on a federal criminal complaint. Prosecutors allege that title policies were manipulated to make collateral pledged to a bank appear more valuable than it was.
According to Reuters, the complaint alleges that Makhijani used software to create title policies that falsely placed his company in a stronger repayment position on certain properties. The case relates to financing arranged through Cantor Group V and a civil lawsuit in which Western Alliance said it was owed approximately $98.6 million.
Separate media reports have described additional allegations involving private parties, intimidation and attempts to pressure associates. These claims have attracted significant public attention, but they should be distinguished from the formal bank fraud charge announced by federal prosecutors. Makhijani has not been convicted, and all allegations remain subject to review in court.
Reuters reported that bank fraud carries a maximum possible sentence of 30 years in prison if a person is convicted. Lawyers connected with the related civil proceedings did not immediately respond to Reuters requests for comment, while Cantor previously denied allegations that it delivered altered title policies.
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