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Indian Movie Maker Pleads Guilty
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December 8, 2008
A movie producer popular with the local Indian community in Virginia has pleaded guilty to the state’s largest fraud case in 20 years.
Vijay K. Taneja, owner of Financial Mortgage, admitted to financing his films with funds he obtained through fraudulent mortgage schemes. Lenders lost at least $33 million from the schemes, including Wells Fargo Bank, EMC Mortgage Corp., Franklin Bank and First Tennessee Bank.
Taneja faces up to 20 years in prison, sentencing is set for Jan. 30.
Read story at The Washington Post
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