A former senior level employee in the technology operations group of Takeda Pharmaceutical Company Limited (Takeda) has pleaded guilty to engaging in a scheme to defraud the company of at least $2.3 million.
Priya Bhambi, 40, of Brookline, pleaded guilty to one count of conspiracy to commit wire fraud and three counts of wire fraud. Bhambi and an alleged co-conspirator, who did not work at the company, were charged in an indictment filed on March 23, 2023.
Between approximately January 2022 and October 2022, Bhambi and her alleged co-conspirator orchestrated and executed a scheme to defraud Takeda of at least $2.3 million in payments for purported consulting services by submitting fabricated invoices on behalf of a sham consulting company.
In February 2022, the co-conspirator, in coordination with Bhambi, allegedly incorporated Evoluzione Consulting LLC (Evoluzione). Later, Bhambi created a website for Evoluzione with false information, including fabricated blog posts, to make it appear that Evoluzione was a legitimate consulting business. After incorporating Evoluzione, Bhambi, allegedly in coordination with the co-conspirator, submitted a statement of work to Takeda and caused Takeda to sign a master services agreement with Evoluzione and issue a purchase order to Evoluzione for consulting services with a total cost of $3.542 million.
The scheme unraveled when questioned by Takeda employees, Bhambi and the alleged co-conspirator made false representations regarding the services purportedly provided by Evoluzione. Takeda paid all five of the invoices to business accounts allegedly opened by the alleged co-conspirator in the name of Evoluzione. In total, Bhambi and the alleged co-conspirator defrauded Takeda of $2.3 million in payments to Evoluzione for services not provided.
Bhambi and her alleged co-conspirator used the fraudulently obtained funds to purchase a Mercedes-Benz Model E; purchase a diamond engagement ring; make a down payment on a $1.875 million condominium in Boston’s Seaport neighborhood; and place a deposit on a wedding venue. The Court issued seizure warrants for the Mercedes, over $1 million in fraud proceeds from accounts the defendants controlled, $49,985 from the wedding venue deposit and issued a restraining order to preserve the Seaport condominium for forfeiture.
The charges of conspiracy to commit wire fraud and wire fraud carry a sentence of no greater than 20 years in prison, up to three years of supervised release and a fine of up to $250,000 or twice the gross gain or loss from the offense. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
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Key Facts
- State: Massachusetts
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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