Indian National Convicted in $150M Elder Fraud Scheme

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A federal jury in Austin, Texas, has convicted Bhavesh Kumar Thakkar, a 45-year-old Indian national, for his role in a fraudulent scheme that defrauded elderly Americans out of over $150 million in cash and gold. Thakkar was found guilty of two counts of wire fraud and money laundering by the U.S. Attorney’s Office for the Western District of Texas. He is the fourth defendant in the case to be convicted, having operated from the U.S. on a spousal visa between September 2022 and September 2025.

Operation Details and Victims

The fraud scheme was based in call centers in India, where scammers used phone calls to target vulnerable seniors. Thakkar, on the American side, collected the stolen cash and gold from victims and moved the proceeds to Los Angeles and New York before laundering them overseas. Prosecutors allege that Thakkar personally received some of the funds from couriers and was linked to over $150 million in fraudulent proceeds.

The victims were ordinary seniors who were lured into handing over their life savings. One man in Granite Shoals was told his identity had been stolen and linked to drug cartels, prompting him to withdraw $180,000 in three separate transactions. An elderly woman in Fort Worth was warned her Social Security number was tied to money laundering and handed over $30,000 to a courier.

Convictions and Sentencing

Two of Thakkar’s co-defendants have already been sentenced: Dhruv Rajeshbhai Mangukiya received 97 months, and Kishan Rajeshkumar Patel received 63 months. A fourth defendant, Rakesh Barot, pleaded guilty to conspiracy to commit money laundering and is awaiting sentencing. Thakkar has not yet been sentenced.

The Justice Department is intensifying its efforts to combat foreign nationals involved in crimes on U.S. soil. Recently, the DOJ moved to strip citizenship from dozens of naturalized Americans convicted of financial fraud offenses.

Source: Breitbart

Written by

claire.thomson