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Real estate deals, ‘high’ returns, 100 victims: Indian-origin ‘glam’ couple held for $4 million scam in US
The US authorities accused Sidhartha Mukherjee and his wife of defrauding 100 investors of $4 million after convincing them to invest in real estate projects.
A famous Indian-origin couple in the US have been arrested in connection with a multi-million-dollar fraud case in North Texas after allegedly defrauding more than 100 people in a fake real-estate investment scheme.
The US authorities accused Sidhartha 'Sammy' Mukherjee and his wife Sunita of defrauding 100 investors of $4 million ( ₹33 crore) after convincing them to invest in real estate projects that never existed.
The Mukherjees, once prominent figures of the Indian-American community in Plano in Texas, have been accused of running fraudulent operations, which involved real estate deals, forged documents, and the misuse of pandemic relief funds.
The couple got famous in the American state because of their glamorous life, Bollywood-style performances and high-society cultural events, according to CBS News. The Mukherjees have been arrested and are currently under a detention facility in the US.
'They will take every single penny you have'
The US authorities said that behind the couple's charm in social circles lay a web of fake investment schemes, defrauded customers and unfulfilled 'high returns.'
"They will make you believe that they are very successful businesspeople. But they will take every single penny you have," Terry Parvaga, a victim of the alleged fraud, told CBS News.
How did the Scam Operate?
The victims were lured into real estate deals and promised high returns. The investors didn't realise the fraud until the dividend cheques started to bounce.
The probe into the scam run by the Mukherjees began around two years ago after several victims complained of investment fraud. However, the complaints were initially dismissed as civil disputes.
Euless Police Detective Brian Brennan began the investigation after a couple claimed to have lost $325,000 in the investment scheme. The couple was arrested in June and charged with first-degree felony theft.
The Mukherjees used to provide investors with copies of what appeared to be remodeling contracts and invoices from the Dallas Housing Authority, according to CBS News. Using the forged documents, the investors were lured into the lucrative remodeling projects.
However, when Detective Brennan contacted the Dallas Housing Authority, it turned out that there was no such projects and all the paperwork and invoices were forged.
"In (my) 23 years, (Sammy Mukherjee) is probably the most prolific fraudster I've seen," Brennan told CBS News.
The FBI also began investigating as the fraud began to unfold. The US agency said that 100 victims lost $4 million.
Sidhartha Mukherjee and Sunita Mukherjee could be sentenced to 99-year jail term if the charges are proved. The two are currently being held at a US Immigration and Customs Enforcement (ICE) detention facility.
Responding to the allegations, the couple have denied any wrongdoings and claimed to be a victim of a coordinated effort by dozens of people to defame him.
Who are the Mukherjees?
Sidhartha 'Sammy' Mukherjee and Sunita Mukherjee are a famous couple in North Texas, known for their Bollywood-style singing and regular cultural parties.
The couple, originally from India, came to the US after seeking asylum.
The couple filed for bankruptcy in 2023 and the investigators are continuing to trace the missing money.
