An Indian-origin man residing in California has been arrested in connection with an alleged $100 million bank fraud scheme. Mahender Makhijani, 44, a lawful permanent resident from India living in Corona del Mar, was taken into custody on a federal criminal complaint.
US federal prosecutors announced that Makhijani is accused of defrauding a bank out of nearly $100 million by submitting falsified loan documents and misleading records. The arrest was made on Wednesday, and Makhijani is expected to make his initial appearance in U.S. District Court in Santa Ana, California.
Allegations of Forged Documents and Deception
According to the complaint from the office of Bill Essayli, First Assistant U.S. Attorney for the Central District of California, Makhijani controlled Cantor Group V LLC, a Newport Beach-based company. This company had a lending agreement requiring it to pledge only first-lien real estate loans to a bank.
Prosecutors allege that between September 2024 and April 2025, Makhijani falsified title insurance policies. These forged documents made it appear that Cantor Group V LLC held first-lien positions on certain loans, even though other creditors actually held priority.
The complaint details that Makhijani and a subordinate allegedly used Adobe software to forge documents and alter metadata. These falsified records were then submitted to the bank. Additionally, authorities claim that misleading explanations were provided to the lender during phone calls and through shared spreadsheets.
Impact on the Banking System
Federal prosecutors stated that this alleged scheme allowed Cantor Group V LLC to obtain and maintain financing based on inaccurate information regarding the underlying loans. "Our nation's economy and welfare depend on a healthy banking system. When lenders are deceived, it has downstream effects on consumers and businesses," the statement emphasized.
If convicted, Mahender Makhijani faces a statutory maximum sentence of 30 years in federal prison. Authorities have reiterated that the complaint contains allegations only, and Makhijani is presumed innocent unless and until proven guilty in court.