Exclusive | Feds snare Newport Beach financier who bilked $100M to fund private jets, fleet of supercars and sex-fueled mega parties

Federal agents swooped early Wednesday morning on the Orange County mansion of a slick Indian financier accused of bilking a local bank out of almost $100 million.With automatic weapons dawn, G-men in tactical gear pounced on Mahender Makhijani, 44, at his plush home on Montecito Drive in the exclusive coastal enclave of Corona del Mar in Newport Beach.Agents with guns and a shield breached the mansion’s gate and pounded on the front door.“Police with a warrant – Come to the door!” yelled an agent.After a few tense moments, Makhijani came out in pajamas.

Agents placed him in cuffs and put him black sedan to be transported to jail.It was a dramatic ending to a high-flying financial career marked by scandal and brutality.Federal prosecutors say Makhijani defrauded a bank out of nearly $100 million by doctoring title policies to make real estate used as collateral look more valuable than it truly was.

The money still has not been recovered, according to court papers.Makhijani, who is a permanent US resident from India, is charged with bank fraud.He is expected to make his initial appearance this afternoon in the United States District Court in Santa Ana.“When criminals are allowed to deceive lenders, the spillover effects can harm consumers and businesses,” said First Assistant United States Attorney Bill Essayli.“Today’s arrest highlights our office’s continued determination to combat threats to our nation’s banking system.”Makhijani, who often wore designer sunglasses even while indoors and favored posh linen shirts, was accustomed to traveling by private jet and kept two mansions side by side, with the second reserved for his in-laws, according to prosecutors.The flashy financial mastermind rolled around in a fleet of luxury cars that included a Bentley, Porsche, and Mercedes G-Wagon, controlling “vast sums of money,” to support his lavish lifestyle, according to court documents.But Makhijani obtained the money illegally, according to au...