Indian-American pleads guilty in $20 million fraud scheme

by | Mar 8, 2023 | Indian-American

Reading Time: < 1 minute

A 38-year-old Indian-American has pleaded guilty to charges related to almost $20 million in fraud that he perpetrated while on federal pre-trial release for another crime.

Nikesh Ajay Patel of Florida was charged with 13 counts, including one count of conspiracy to commit wire fraud, three counts of wire fraud, one count of conspiracy to commit money-laundering, and eight counts of money-laundering.

He faces a maximum penalty of 30 years in federal prison for each count of conspiracy and wire fraud, and up to 20 years’ imprisonment for each money-laundering count, according to a Department of Justice release.

His sentencing date has not yet been scheduled, Attorney Roger B Handberg announced on Monday.

According to court documents, Patel, who was charged in 2014 by the US Attorney’s Office in the Northern District of Illinois for a $179 million fraud scheme, was arrested and released on bond.

For the next several years, Patel claimed that he was cooperating with authorities and using his business skills to get funds to repay some of what he owed.

In fact, Patel had devised a new scheme that netted him almost $20 million.

Like this story? Or have something to share?

Write to us: contact@hindhimalayausa.com

Connect with us on Facebook and Twitter

0 Comments

You May Also Like

Indian-American DJ KSHMR collaborates with Raftaar on Legacy

Indian-American DJ KSHMR collaborates with Raftaar on Legacy

As hip-hop turns 50 , Indian-American DJ-producer KSHMR and rapper-producer Raftaar have joined forces for their debut collaboration titled 'Legacy', the third track from KSHMR's much-awaited Indian hip-hop album 'Karam'. Raftaar showcases his lyrical prowess as he...

US pork industry working on exporting first shipments to India

US pork industry working on exporting first shipments to India

The American pork industry is working on exporting its first shipments of pork to India, an industry leader has told lawmakers. Randy Spronk, a Minnesota pork producer, was speaking during a Congressional hearing on behalf of the National Pork Producers Council....

16 Indian American middle schoolers in STEM challenge finals

16 Indian American middle schoolers in STEM challenge finals

A total of 16 Indian American youngsters are among 30 finalists in the inaugural Thermo Fisher Scientific Junior Innovators Challenge (Thermo Fisher JIC), the nation’s premier middle school science, technology, engineering and mathematics (STEM) competition. The 30...

India-US Strategic Partnership Has Never Been More Dynamic: Blinken

India-US Strategic Partnership Has Never Been More Dynamic: Blinken

The strategic relationship between India and the United States has never been so dynamic, US Secretary of State Anthony Blinken said on Wednesday. Speaking days after India successfully hosted the G-20 Summit in New Delhi, Blinken said that both India and the US will...

India-US Space Cooperation Gets a New Fillip

India-US Space Cooperation Gets a New Fillip

From September 7-10, U.S. President Joe Biden was in New Delhi to attend the G-20 Summit hosted by India. Biden and Indian Prime Minister Narendra Modi met for a bilateral discussion as soon as the U.S. president landed, highlighting their “close and enduring...