Federal authorities in the United States have arrested Indian-origin financier Mahender Makhijani after a raid at his California residence. Multiple reports say he is accused of running a bank fraud scheme involving a federally insured bank and alleged to have led to losses of about $100 million. According to the US Internal Revenue Service (IRS), investigators allege that Makhijani falsifies or manipulates title insurance records and conceals the true position of liens related to transactions. The allegations also describe the use of shell companies to obscure ownership and financial details and to mislead the bank involved in the lending process. Reports further note that prosecutors and investigators link the case to claims that he hosted sex parties as part of the conduct surrounding the alleged scheme. The authorities charge that the combination of falsified records and corporate structures was used to facilitate fraudulent transactions. The reports summarize these allegations as part of ongoing criminal proceedings, without indicating that guilt has been established.