$100 million bank fraud, forged documents on Adobe: Indian-origin man arrested in US

An Indian-origin man living in California was arrested on Wednesday on charges of defrauding a bank out of nearly $100 million by allegedly submitting falsified loan documents and misleading records, US federal prosecutors said.

Mahender Makhijani, 44, a lawful permanent resident from India residing in Corona del Mar, was arrested on a federal criminal complaint, according to a statement from the office of Bill Essayli, First Assistant U.S. Attorney for the Central District of California.

Prosecutors alleged that Makhijani controlled Cantor Group V LLC, a Newport Beach-based company that had a lending agreement requiring it to pledge only first-lien real estate loans to a bank.

Between September 2024 and April 2025, Makhijani allegedly falsified title insurance policies to make it appear that Cantor held first-lien positions on certain loans when other creditors were actually ahead in priority.

The complaint alleges that Makhijani and a subordinate forged documents using Adobe software, altered metadata, and submitted the falsified records to the bank. Authorities also alleged that misleading explanations were provided during phone calls and through spreadsheets shared with the lender.

Federal prosecutors said the alleged scheme enabled the company to obtain and maintain financing based on inaccurate information about 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 said.

Makhijani is expected to make his initial appearance in U.S. District Court in Santa Ana, California, on Wednesday.

If convicted, he faces a statutory maximum sentence of 30 years in federal prison.

Authorities noted that the complaint contains allegations only and that Makhijani is presumed innocent unless and until proven guilty in court.