Nikesh Ajay Patel, 40, a man with a history of elaborate financial schemes, has been sentenced to 27 years in federal prison for defrauding the U.S. Department of Agriculture (USDA) while he was on pretrial release for a separate $179 million fraud case in Chicago.
This new sentence will be served consecutively to the 25-year sentence he is already serving, effectively putting him behind bars for over five decades.
Patel’s ex-wife, Trisha Patel, 41, was also sentenced to 51 months in prison for her role in a related scheme. Both are required to pay restitution to the USDA and other financial institutions.
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Patel’s criminal history reveals a pattern of sophisticated fraud. After being charged in the Chicago case in 2014, he claimed to be cooperating with authorities while secretly orchestrating a new scheme against the USDA, ultimately netting him over $19 million. He was arrested in 2018 while attempting to flee to Ecuador on a private jet.
Despite being in custody, Patel’s fraudulent activities continued. He fabricated loan documents, used a fictitious identity, and even recruited his then-wife, Trisha, to participate in a scheme involving a fake loan for a pump manufacturer in Puerto Rico. This scheme resulted in the Patels fraudulently obtaining over $7.4 million.
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With this latest sentence, Nikesh Patel faces a lengthy period of incarceration, effectively ending his ability to perpetuate further fraud. This case serves as a reminder of the dedication of law enforcement agencies to pursue and prosecute those who engage in complex financial crimes, ensuring that they are held accountable for their actions.
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