BOSTON – A brazen scheme to siphon $2.3 million from pharmaceutical giant Takeda has landed a former senior employee in hot water. Priya Bhambi, 40, of Brookline, Massachusetts, pleaded guilty yesterday to conspiracy to commit wire fraud and three counts of wire fraud. The scheme involved fabricated invoices and a phantom consulting company, leaving Takeda footing the bill for services never rendered.
According to federal prosecutors, Bhambi, working within Takeda’s technology operations group, teamed up with an unnamed co-conspirator to establish Evoluzione Consulting LLC in February 2022. Bhambi then built a bogus online presence for Evoluzione – complete with fake blog posts – to create the illusion of a legitimate business. A master services agreement and a $3.542 million purchase order were subsequently secured with Takeda. Between March and May of 2022, the pair allegedly submitted five invoices totaling $460,000 each, for work Evoluzione never performed.
When Takeda employees raised questions about the services, Bhambi and her accomplice allegedly doubled down on the deception, providing false assurances. The company ultimately paid out $2.3 million to accounts controlled by the co-conspirator, masquerading as Evoluzione’s business accounts. The funds weren’t used for business expenses; instead, they were funneled into a life of luxury. Prosecutors detail purchases including a Mercedes-Benz Model E, a diamond engagement ring, a down payment on a $1.875 million condominium in Boston’s Seaport district, and a deposit on a wedding venue.
Federal investigators didn’t just stop at the guilty plea. Seizure warrants have been issued for the Mercedes-Benz, over $1 million in fraudulently obtained funds, and nearly $50,000 from the wedding venue deposit. A restraining order is also in place to preserve the Seaport condominium, earmarked for forfeiture. The feds are clearly aiming to claw back as much of the stolen money as possible.
Bhambi now faces a potential sentence of up to 20 years in prison, three years of supervised release, and a fine of up to $250,000 – or twice the gross gain or loss resulting from the offense. The final sentence will be determined by a federal district court judge, guided by U.S. Sentencing Guidelines and relevant statutes. Acting United States Attorney Joshua S. Levy and FBI Special Agent in Charge Jodi Cohen announced the guilty plea, praising Takeda’s cooperation with the investigation.
Assistant U.S. Attorney Leslie A. Wright is leading the prosecution, with Assistant U.S. Attorney Carol E. Head handling the forfeiture aspects of the case. It’s crucial to remember that the details presented in the charging documents are allegations at this point, and the remaining defendant is presumed innocent until proven guilty. But for Bhambi, the game is likely up, and a lengthy prison sentence looms large.
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Key Facts
- State: Massachusetts
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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