A Rockville man has been sentenced to three years in federal prison for his role in a scheme to defraud his employer of more than $1.7 million.
Rakesh Kaushal, 66, was sentenced by U.S. District Judge Paul W. Grimm for his guilty plea to conspiracy to commit wire fraud. Kaushal was also ordered to pay restitution, with the exact amount to be determined at a later hearing.
According to court documents, Kaushal was employed by a company headquartered in Beltsville, Maryland, which provided construction and design services to federal government agencies. Ivan Victor Thrane was the owner and president of three construction companies operating in Dickerson and Beltsville, Maryland.
Kaushal recommended the Thrane companies to be subcontractors on projects for which he was the Project Manager or Project Executive. Between August 2015 and January 2017, Kaushal conspired with Thrane to defraud their employer by submitting fraudulent payment requests for work purportedly performed by the Thrane companies.
Kaushal prepared the payment requests, which he e-mailed to Thrane. Thrane, or another individual at Thrane’s request, signed the payment requests on behalf of the Thrane companies. The payments were then made to the Thrane companies, with Kaushal receiving a portion of those payments.
After their employer discovered the overbilling in December 2016, Kaushal and Thrane attempted to conceal the scheme. They sent emails to other employees, pretending to investigate the overpayments, when in fact they had no intention of returning the money.
Kaushal eventually wired $650,000, including proceeds of the fraud, from one of his personal bank accounts to an account in India. Victim Company 1 initiated civil litigation against Kaushal and Thrane, and obtained a default judgment.
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Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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