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JUN 13, 2026 · 10:25 UTC · CYCLE 0001

Indian-origin financier arrested in US for $100 million fraud scheme

On 2026-06-12, US federal authorities arrested Indian-origin businessman Mahender Makhijani at his residence in Corona del Mar, Newport Beach, California, in connection with an alleged financial fraud scheme. Prosecutors said the case involved losses approaching $100 million to a federally insured bank.

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