US Recovers Over $10 Million From Indian Fraudster

An Indian national, Parag Bhavsar, has confessed to defrauding phone companies and insurance firms of millions of dollars.

He used stolen or fake identities to make fraudulent claims for replacement phones, which he then sold outside the US. Bhavsar pleaded guilty to mail fraud and interstate transfer of stolen property charges. His sentencing is set for January 3, 2024.

From 2013 to 2019, he participated in a scheme involving bogus claims for lost or damaged phones, using the postal service and third-party mail carriers. He maintained mailboxes and storage units across the US to receive and sell replacement devices to parties overseas.

The fraud resulted in multimillion-dollar losses for phone companies and insurers. Bhavsar could face up to 20 years in prison and a fine. As part of the plea agreement, he will forfeit $10.67 million.