Orange County Financier Arrested on $100 Million Bank Fraud Charges
Federal agents arrested Mahender Makhijani, 44, at his Newport Beach mansion on Wednesday, charging him with defrauding a bank of nearly $100 million through falsified real estate title documents. Prosecutors allege Makhijani used the stolen funds to finance a lavish lifestyle including private jets, luxury vehicles, and high-end properties. The case highlights concerns about fraud's impact on the banking system, though the full extent of Makhijani's assets remains unaccounted for.
Federal authorities arrested Indian-born financier Mahender Makhijani at his Corona del Mar home in an early morning raid, charging him with bank fraud for allegedly stealing nearly $100 million. According to prosecutors, Makhijani doctored real estate title policies to inflate collateral values, personally falsifying documents using a laptop and printing techniques. The stolen funds allegedly supported an extravagant lifestyle featuring private jet travel, a fleet of luxury vehicles including a Bentley and Porsche, and multiple high-end properties. Court documents indicate Makhijani controlled numerous shell companies and used intimidation tactics—including threats of violence and blackmail involving parties with sex workers and drugs—to manage associates and silence potential witnesses. Prosecutors note that significant portions of Makhijani's wealth remain untraced and are likely hidden under assumed names or entities.
What's missing
The identity of the defrauded bank is not disclosed in available reporting. Additionally, the specific timeline of the fraud scheme and when authorities first began investigating are not detailed.
What different sources said
- New York PostRight
Feds snare Newport Beach financier who ‘bilked $100M to fund private jets, fleet of supercars and sex-fueled mega parties’
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