Connect with us

News

Indian-Americans sentenced in $8.44 Million Student Visa and Financial Aid fraud

Published

on

NEW YORK (Diya TV) — Three Indian-American senior executives, Suresh Hiranandaney, Lalit Chabria and Anita Chabria, who served privately owned for-profit schools, were sentenced in Manhattan Federal Court for their roles in a student financial aid fraud scheme in which they defrauded the United States Department of Education of $1 million in education grant funds, and in a student visa fraud scheme that generated $7.44 million in illegal revenues.

“Suresh Hiranandaney, Lalit Chabria, and Anita Chabria exploited our nation’s financial aid and foreign student visa programs, engaging in a long-running fraud scheme that generated millions of dollars. The defendants greedily took advantage of programs meant to help people get a higher education, and in the process, committed federal crimes,” U.S. Attorney Preet Bharara said.

Their arrests came after a nearly year-long investigation by the United States Immigration and Customs Enforcement’s Homeland Security Investigations , the United States Department of State’s Diplomatic Security Service , and the United States Department of Education’s Office of the Inspector General.

Federal agents conducted raids on the Micropower Careers Institute in March of 2014

Federal agents conducted raids on the Micropower Careers Institute in March of 2014

District Judge Paul Oetken sentenced Hiranandaney and Lalit Chabria each to one year and one day in prison, Anita Chabria was reprimanded with six months of home confinement. Judge Oetken also ordered the three to forfeit $7.44 million for the student visa fraud and to pay $1 million in restitution for the student financial aid fraud.

According to court documents, the co-defendants were associates of the Micropower Career Institute, or the Institute for Health Education, both of which offered vocational, language, and other classes to domestic students whose tuition was partially covered by the Department of Education, and foreign students who were allowed to stay in the U.S. on student visas.

At the time of their sentencing, there still remained an additional two co-defendants in the case, Samir Hiranandaney and Seema Shah, whom were awaiting to hear their fates from Judge Oetken.

 

 

Continue Reading

News

FTX’s Nishad Singh got $543 million loan

Published

on

More fallout from the FTX cryptocurrency platform collapse. Court documents show its affiliate Alameda Research loaned executives like Sam Bankman Fried $1 billion and more than $500 million to Indian American Nishad Singh, FTX’s top engineer. FTX’s interim CEO says never in his career has he seen such complete failure of corporate controls and a complete absence of trustworthy financial information. The company filed for Chapter 11 bankruptcy after it was unable to come up with customer funds.

Elizabeth Holmes was sentenced to more than 11 years in prison after her conviction in January for defrauding investors while running the failed blood testing start up Theranos.In her trial, Holmes alleged she was in the midst of a decade-long abusive relationship with her then-boyfriend and Theranos COO Ramesh “Sunny” Balwani. The Indian American was also found guilty for his role in this fraud and will be sentenced later.

Starting next month, India will assume the G20 presidency for a year and chair more than 200 meetings, leading the way for global economic growth. Prime Minister Narendra Modi said his country’s leadership here will be inclusive, ambitious, and decisive.

Ravi Kapur contributed to this report.

Continue Reading

News

Arvind Venkat & Tarik Khan win Pennsylvania State seats

Published

on

WASHINGTON D.C. (Diya TV) – Looking back at the midterm elections, Arvind Venkat and Tarik Khan made history as the first South Asian Americans elected to the Pennsylvania State Legislature. Advocacy group Indian American Impact played a major role on the ground, saying it trained and mobilized 200 volunteers to go door-to-door, to engage voters and provide info they needed to elect new leadership.

After 35 years, the Nancy Pelosi era is officially coming to an end. The speaker from San Francisco announced she’s bowing out of leadership, but will retain her House seat. The midterms cost Pelosi’s Democratic party the House and effectively ended her speakership.

Two former Indian American executives at Meta Platforms will launch a new non fungible token start up for creators. Kirthiga Reddy and Saurabh Doshi have raised more than $8 million for their new company called Virtualness. But they are facing headwinds as the FTX cryptocurrency exchange collapse is putting pressure on the entire industry.

Ravi Kapur contributed to this report.

Continue Reading

News

Meet FTX insider Nishad Singh

Published

on

SAN FRANCISCO (Diya TV) – The controversy around failed cryptocurrency exchange FTX continues to captivate the world. Part of the scrutiny is now on the people involved, including Indian American Nishad Singh. According to new reports, this techie was part of FTX’s inner circle, which lived together and ran the cryptocurrency empire from the Bahamas. The software engineer was also reportedly aware that FTX secretly transferred customer funds worth billions of dollars to its sister firm Alameda Research. Currently, no one is facing any criminal charges. Diya TV featured Singh more than a decade ago for running ultra marathons as a 17 year old getting ready for college. 

Former President Donald Trump has officially announced he is running for president in 2024, marking his third bid for the White House. Trump had been hinting at this announcement for months, as the embattled former president faces multiple criminal and civil litigations and as his party is grappling with a worse than expected showing in the midterm elections. 

At the G20 Summit in Bali, world leaders including Indian Prime Minister Narendra Modi and U.S. President Joe Biden are coming together to condemn the rising threat of nuclear weapons as Russia’s war against Ukraine continues to raise tension and anxiety around the world.

Ravi Kapur contributed to this report.

Continue Reading

Trending

Diya TV , Inc. © 2017 All Rights Reserved