Federal authorities have arrested Indian-born businessman Mahinder Makhijani and charged him with defrauding a bank of nearly $100 million through a scheme that included forged real estate documents and misleading financial records.The 44-year-old is a legal permanent resident from India and lives in Corona del Mar, California. He was taken into custody on Wednesday and charged with bank fraud. He faces up to 30 years in prison if convicted, according to The New YorkerAccording to court documents, Makhijani ran Newport Beach-based Cantor Group V LLC, which entered into an agreement with a bank to use only the highest priority mortgages as collateral. Between September 2024 and April 2025, he changed title insurance documents to make it appear as if the company had first claim on some properties, even though other lenders already had priority rights over them.Makhijani and his subordinate altered documents using Adobe software, changed metadata and submitted false records to the bank. Furthermore, misleading explanations were made during calls and through spreadsheets sent to the lender.Federal agents arrested Makhijani at his home in the coastal community of Corona del Mar in Newport Beach. Investigators have not yet been able to recover the missing money.The complaint paints a picture of a businessman who controls a large fortune and a network of companies.
Makhijani traveled by private jet, owned nearby mansions, and maintained a collection of luxury cars, including a Bentley, a Porsche, and a Mercedes G-Wagon.Its finances remain difficult to trace.“Makhijani has significant financial resources, but the government has not fully tracked and accounted for these resources, which are certainly not owned in Makhijani’s name,” the complaint said.Cantor V Group was only one of several entities controlled by Makhijani. The complaint alleges that he personally manipulated property records on a laptop computer by editing metadata or printing, changing, and re-scanning documents before submitting them to lenders.
Mahinder threatened to “kill” the employees
The court file also contains misconduct by Makhijani. He threatened his comrades, bragged about fleeing to India if authorities caught him, and used intimidation to maintain control over his subordinates.
Witnesses told investigators that he threatened to “kill” the employees and put their “families on the street” and their “children on welfare.”He hosted parties featuring drug and sex workers and later used what the attendees at those parties did as leverage against them.The complaint also links Makhijani to a number of business disputes. He directed his companions to confront competitors, target their businesses, and put pressure on opponents.
One dispute centered on the management of the Laguna Hotel in 2023, where security personnel linked to Makhijani clashed with staff at the hotel.Separately, an arbitrator awarded about $1.34 billion in May to Laguna Beach businessman Mohamed Honarkar in a civil dispute involving dozens of properties. The ruling concluded that Makhijani had breached the agreements and defrauded Honarkar.“Criminals like this, they have multiple companies and multiple places,” Honarkar told The Pilot. “They’re hiding, and [Makhijani] He doesn’t give you any paper.”Makhijani is expected to make his first appearance in federal court in Santa Ana.Announcing the arrest, First Assistant US Attorney Bill Eiseley said: