Md. U.S. Attorney: Five Indicted in Scheme to Fraudulently Obtain Bank and Small Business Administration Loans in Property Flipping Scheme
November 09, 2023
November 09, 2023
BALTIMORE, Maryland, Nov. 9 -- The U.S. Attorney for the District of Maryland, Erek L. Barron, issued the following news release:
A federal grand jury has returned an indictment charging five individuals for a fraud scheme intended to obtain over $35 million from financial institutions by providing false documentation in support of SBA loan applications for the purchase of hotels. Defendant Mehul Ramesh Khatiwala, a/k/a "Mike Khatiwala," age 41, of Voorhees, New Jersey, al . . .
A federal grand jury has returned an indictment charging five individuals for a fraud scheme intended to obtain over $35 million from financial institutions by providing false documentation in support of SBA loan applications for the purchase of hotels. Defendant Mehul Ramesh Khatiwala, a/k/a "Mike Khatiwala," age 41, of Voorhees, New Jersey, al . . .