Indian-American arrested over $100 million bank fraud using manipulated insurance titles
A 44-year-old Indian-American man has been arrested in California for allegedly defrauding a bank of nearly USD 100 million by falsifying insurance policy records. Mahender Makhijani, a lawful permanent resident living in Corona del Mar, faces a maximum sentence of 30 years in prison if convicted.
Authorities allege that Makhijani manipulated title insurance records, concealed true lien positions, and used a network of shell companies to mislead the federally insured bank. According to Darren Lian, Acting Special Agent in Charge of the IRS Criminal Investigation in Los Angeles, the scheme was designed to deceive the bank at multiple levels, exploiting flaws in loan collateral documentation.
The bank had advanced nearly USD 100 million to Cantor Group V LLC, a Newport Beach-based company controlled by Makhijani, to originate or purchase real estate loans. Cantor was required to pledge the secured loans and their underlying collateral to the bank and repay from the proceeds. Federal investigators traced the money through complex transfers and disguised accounts to uncover the scheme.
Global Insurance Market Expands by 7.1% in 2025, Allianz Reports
The global insurance industry grew by an estimated 7.1% in 2025, driven by solid performance across life, non-life, and specialty segments, according to Allianz. Worldwide insurance premiums reached roughly €6.9 trillion, with growth supported by strong life insurance sales, property and casualty demand, and emerging market performance.
Life insurance remained a key contributor, spurred by increasing protection needs, longer-term savings products, and demographic tailwinds in various regions. Property and casualty markets also saw gains, aided by reconstruction projects, renewed property investment, and rising pricing after years of inflationary pressure.
The report highlighted digital transformation as a critical trend, including the adoption of analytics and AI for underwriting and claims. Insurers are also focusing on climate risk and resilience planning. Emerging markets in Asia and Latin America posted higher growth than mature markets, where growth remained steady but moderated by competitive pricing and regulatory oversight.
UAE-Based NRIs Increasingly Choose Term Insurance for Financial Security
Term insurance is gaining traction among UAE-based Indian families, driven by a growing awareness of long-term financial protection needs. Financial advisors report increased interest in pure protection plans, offering substantial life cover at relatively affordable premiums.
For expatriate families, term insurance serves as a crucial tool for safeguarding dependents against income loss and unforeseen events. Rising household responsibilities, educational and housing goals, and retirement planning are fueling demand for protection-first strategies.
Industry experts note that NRIs are increasingly prioritising risk management over investment-linked products. The trend highlights a shift toward financial resilience, with term insurance forming the foundation of comprehensive financial planning. This focus on protection ensures that families maintain security against unexpected financial shocks while supporting disciplined long-term wealth management strategies.
