California Financier Arrested for $100 Million Bank Fraud

Federal authorities arrested a California-based financier on Wednesday, June 10, 2026, on charges of orchestrating a nearly $100 million bank fraud scheme. Mahender Makhijani, a 44-year-old lawful permanent resident from India living in Corona del Mar, was taken into custody at his Newport Beach mansion.

According to a federal criminal complaint, 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 federally insured bank. Prosecutors allege that between September 2024 and April 2025, Makhijani systematically falsified title insurance policies to make it appear his company held first-lien positions on properties when other creditors actually held priority claims. This deception made the loan collateral appear more valuable, influencing the bank to advance nearly $100 million.

Authorities state that Makhijani and a subordinate used Adobe software to forge documents, altered metadata, and submitted the falsified records. The complaint further alleges they provided misleading explanations during telephone calls with bank representatives and submitted a spreadsheet containing...