Indian-origin businessman arrested over $100 million bank fraud scheme in California

Federal authorities have arrested Mahender Makhijani, an Indian-origin businessman residing in Corona del Mar, California, on charges of orchestrating a bank fraud scheme that cost a financial institution nearly $100 million. Makhijani, 44, a lawful permanent resident of the U.S. from India, was taken into custody on Wednesday and faces up to 30 years in prison if convicted of bank fraud.

According to court documents, Makhijani operated Newport Beach-based Cantor Group V LLC. The company allegedly used forged real estate documents and manipulated financial records to deceive a bank into believing it had first claim on certain properties for collateral. Between September 2024 and April 2025, Makhijani and an associate allegedly used Adobe software to alter title insurance documents, modify metadata, and submit these forged records to the bank. Misleading explanations were also provided during communications with the lender.

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Makhijani has significant financial resources, but the government has not fully traced and accounted for those resources, which are almost certainly not held in Makhijani’s name.

Investigators have yet to recover the substantial missing funds. The complaint details Makhijani's lavish lifestyle, including travel by private jet, ownership of multiple mansions, and a collection of luxury vehicles like a Bentley, Porsche, and Mercedes G-Wagon. However, tracing his financial resources has proven difficult, as they are reportedly not held in his name.

Beyond the financial fraud, the court filing also outlines Makhijani's alleged misconduct towards employees and business associates. Witnesses reported that he threatened to kill employees and leave their families destitute. He reportedly used intimidation tactics, hosted parties involving drugs and sex workers, and later leveraged attendees' actions at these parties against them. Makhijani also allegedly directed associates to confront business rivals and target their companies, with one dispute involving clashes at the Hotel Laguna.

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kill employees and put their “family on the street” and “their kids on welfare.”