A Newport Beach business executive was arrested following a federal criminal complaint charging him with orchestrating a massive bank fraud scheme that defrauded a financial institution out of nearly $100 million.
Mahender Makhijani, a 44-year-old lawful permanent resident from India residing in the affluent community of Corona del Mar, California, was taken into custody by federal authorities. The arrest highlights a sophisticated, multi-month operation that manipulated financial records to secure massive loans, sending shockwaves through the local business community. Makhijani is expected to make his initial appearance in the U.S. District Court in Santa Ana, California, to face the federal charges leveled against him.
The investigation centers on Makhijani’s role at Cantor Group V LLC, a Newport Beach-based company under his control. According to federal prosecutors, the firm operated under a strict lending agreement with a victim bank, which required Cantor Group V LLC to pledge exclusively first-lien real estate loans as collateral. Instead, authorities allege that Makhijani engaged in a systematic pattern of deception from September 2024 through April 2025. To keep the credit flowing, Makhijani and a subordinate allegedly used Adobe software to forge title policies, alter metadata, and fabricate records to make it appear as though Cantor Group V LLC held secure, first-lien positions on properties when other creditors actually held priority. This paper trail was supported by misleading spreadsheets and deceptive explanations provided during calls with bank representatives…