A California real estate investor whose firm was accused by Western Alliance Bancorp of an almost $100 million fraud was criminally charged by the US, the latest fallout from a portfolio of commercial properties that sparked credit concerns at several banks last year. Mahender Makhijani, 44, was charged Wednesday with bank fraud for allegedly falsifying documents to get a loan, according to a stat...
A California real estate investor whose firm was accused by Western Alliance Bancorp of an almost $100 million fraud was criminally charged by the US, the latest fallout from a portfolio of commercial properties that sparked credit concerns at several banks last year. Mahender Makhijani, 44, was charged Wednesday with bank fraud for allegedly falsifying documents to get a loan, according to a statement issued by the US attorney in Los Angeles. The case is significant because Phoenix-based Western Alliance, along with another regional lender, Salt Lake City-based Zions Bancorp , spooked their own investors late last year when they disclosed potential losses from bad loans amid other credit hits spurred by the collapse of Tricolor Holdings and First Brands Group that rattled the stock market. Makhijani, through Newport Beach, California-based investment firm Cantor Group V LLC that he controls, took out loans of almost $100 million by pledging a portfolio of properties as collateral even though he didn’t have first-lien rights to the real estate, according to prosecutors. The bank that was allegedly defrauded isn’t identified in the criminal case, but the statement pointed to a lawsuit by Western Alliance against Cantor Group “in connection with the alleged fraud” that was filed in August in Los Angeles state court. Read More: Troubled Real Estate Firm at Center of Banks’ Latest Loan Pinch First-lien rights would let the bank recover value from the properties ahead of other creditors in the event of liquidation, while a second or later lien is worth much less as collateral. If the bank had known, it would have considered Cantor Group to be in default and demanded immediate repayment of those loans in full, according to prosecutors. A spokesperson for Western Alliance declined to comment on the criminal case. Regarding its civil case against Cantor Group, he said the bank believes it can recover its loan losses in the future from multiple sources. Most of the propertie...
Barely a week after Nvidia-backed chipmaker Coherent warned of a shortage of indium phosphide in an earnings call in early May, its CEO Jim Anderson was on a plane with a U.S. business delegation accompanying President Donald Trump on his trip to China. Anderson's visit was partly to raise the issue of delays in China's export licenses involving the highly strategic material, essential in manufac...
Barely a week after Nvidia-backed chipmaker Coherent warned of a shortage of indium phosphide in an earnings call in early May, its CEO Jim Anderson was on a plane with a U.S. business delegation accompanying President Donald Trump on his trip to China. Anderson's visit was partly to raise the issue of delays in China's export licenses involving the highly strategic material, essential in manufacturing high-speed optical chips for AI data centres, said three sources familiar with the matter. The issue was also discussed during talks in Seoul between top trade negotiators of the two countries ahead of Trump's May 14-15 summit with China's President Xi Jinping, according to two U.S. government officials and a person briefed on the talks.
(RTTNews) - The China stock market turned lower again on Wednesday, one day after ending the three-day slide in which it had slumped more than 125 points or 3 percent. The Shanghai Composite Index now sit just above the 3,990-point plateau and it's tipped to open under pressure a
(RTTNews) - The China stock market turned lower again on Wednesday, one day after ending the three-day slide in which it had slumped more than 125 points or 3 percent. The Shanghai Composite Index now sit just above the 3,990-point plateau and it's tipped to open under pressure a
AarreRinne/E+ via Getty Images Activist investor Elliott Investment Management has intensified its campaign against Northern Star Resources ( NESRF ), arguing the Australian gold producer’s board has failed to address the issues behind the company’s weak market performance and declining investor confidence. The latest criticism follows a letter from Northern Star ( NESRF ) Chairman Michael Chaney,...
AarreRinne/E+ via Getty Images Activist investor Elliott Investment Management has intensified its campaign against Northern Star Resources ( NESRF ), arguing the Australian gold producer’s board has failed to address the issues behind the company’s weak market performance and declining investor confidence. The latest criticism follows a letter from Northern Star ( NESRF ) Chairman Michael Chaney, who told shareholders Wednesday that the company is not currently in a position where a sale of the business or a spin-off of smaller assets would be appropriate. Chaney’s comments came after Elliott disclosed a significant stake in the miner and called for a strategic review that could include restructuring initiatives or a potential sale. The dispute highlights growing investor frustration with Northern Star’s ( NESRF ) operational setbacks and lagging share performance despite strong gold prices. Elliott’s push for a strategic review, potential asset sales, or an outright takeover could increase pressure on the board to pursue changes aimed at unlocking shareholder value. The outcome may influence Northern Star’s valuation, future leadership plans, and position within Australia’s gold mining sector. In a statement issued Thursday, Elliott rejected the board’s position, saying directors were underestimating the scale of change needed to restore credibility with investors and improve the company’s valuation. The hedge fund renewed its call for a comprehensive review of strategic alternatives and urged the board to revisit the possibility of a sale process. Elliott also criticized Northern Star’s leadership, citing what it described as years of operational shortcomings, disappointing performance, and a CEO succession process that remains unresolved following the announced departure of Chief Executive Stuart Tonkin. According to Elliott, the board’s response has strengthened the case for a broader strategic assessment of the company’s future. The activist campaign gained mo...
Chinese AI-enabled equipment can help police assess the physical health, mental state, and even risk level of suspects, according to demonstrations at a law enforcement equipment exhibition in Beijing last week. Chinese firms presenting their latest biometric devices at the international police and anti-terrorism technology expo said they could reduce manpower requirements for a police force and i...
Chinese AI-enabled equipment can help police assess the physical health, mental state, and even risk level of suspects, according to demonstrations at a law enforcement equipment exhibition in Beijing last week. Chinese firms presenting their latest biometric devices at the international police and anti-terrorism technology expo said they could reduce manpower requirements for a police force and improve efficiency amid a shortage of frontline officers. The three-day exhibit which ended on...
Wang Junming from central China’s Hunan province may be 25 years old, but he is still the size of a baby. Standing at 66cm tall, Wang has the IQ of a child. He is spoiled by his family, including his 21-year-old sister, who all call him “baby”. He need not worry about graduation and jobs as his peers do and he sleeps before 8pm every day. The eye pouches and wrinkles on his face and the characters...
Wang Junming from central China’s Hunan province may be 25 years old, but he is still the size of a baby. Standing at 66cm tall, Wang has the IQ of a child. He is spoiled by his family, including his 21-year-old sister, who all call him “baby”. He need not worry about graduation and jobs as his peers do and he sleeps before 8pm every day. The eye pouches and wrinkles on his face and the characters that pop out from his mouth make it is hard to believe that Wang is a baby. He went viral after...
Our report that China’s landmark Pinglu Canal is set for trial operations in September was one of the most read the week it was published. Interestingly, most of those who read the report were from the United States, followed by Malaysia, Singapore, Canada, Australia and Hong Kong. The report had three times as many Singaporean readers as local ones. I find this disparity concerning and not for re...
Our report that China’s landmark Pinglu Canal is set for trial operations in September was one of the most read the week it was published. Interestingly, most of those who read the report were from the United States, followed by Malaysia, Singapore, Canada, Australia and Hong Kong. The report had three times as many Singaporean readers as local ones. I find this disparity concerning and not for reasons of editorial vanity. While the Pinglu Canal is a global story – representing one of the...
Sign up for the daily India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise. India is taking unprecedented measures to restore confidence in its national student examination system after a series of scandals fueled angry protests from young people and put pressure on Prime Minister Narendra Modi ’s gov...
Sign up for the daily India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise. India is taking unprecedented measures to restore confidence in its national student examination system after a series of scandals fueled angry protests from young people and put pressure on Prime Minister Narendra Modi ’s government. Last month, authorities took the extraordinary step of canceling the medical entrance exam results of more than 2 million students after allegations of widespread leaking of the papers. For the retest on June 21, the government will now deploy the Indian Air Force for the first time ever to transport question papers, according to officials familiar with the matter. Individuals involved in setting the exams will be kept under strict surveillance with restricted access to phones and communications, the officials said, asking not to be identified because the details aren’t public. Modi’s government is trying to curb the fallout of the entrance exam scandal as a separate controversy involving erroneous school marks linked to a new online system simmers. The two issues have fueled protests by Gen Zs in India and been channeled into a political movement called the Cockroach Janta Party, which is calling for the education minister to resign. Entrance exams are a crucial gateway for students to enter university, find jobs and improve the economic and social status for their families. The stakes are especially high since unemployment for 25 to 29 year olds is estimated at about 20%, according to Azim Premji University. To restore public integrity, officials have effectively created controlled environments around the printing facilities for exam papers, and restricted the communication and movement of staff involved in preparing the examination material, officials said. New Delhi sees the fallout as temporary and expects the issues to be fixed. India’s federal investigative ...
Blackstone Inc. (NYSE:BX) is a deep value stock to invest in now. On June 6, 2026, Apollo Global Management (NYSE:APO) and Blackstone (NYSE:BX) finalized a $35 billion financing package for Anthropic, according to Bloomberg. The deal is one of the largest private credit transactions on record and will fund Google’s custom TPUs, leased by Anthropic […]
Blackstone Inc. (NYSE:BX) is a deep value stock to invest in now. On June 6, 2026, Apollo Global Management (NYSE:APO) and Blackstone (NYSE:BX) finalized a $35 billion financing package for Anthropic, according to Bloomberg. The deal is one of the largest private credit transactions on record and will fund Google’s custom TPUs, leased by Anthropic […]
Nvidia Corp (NASDAQ:NVDA) is one of the best data center stocks to invest in according to billionaires. Nvidia shares are up 14% over the past month and up more than 48% over the past year. On June 6, Micron Technology (NASDAQ:MU) secured certification for its HBM4 memory on Nvidia Corp (NASDAQ:NVDA)’s upcoming Vera Rubin AI […]
Nvidia Corp (NASDAQ:NVDA) is one of the best data center stocks to invest in according to billionaires. Nvidia shares are up 14% over the past month and up more than 48% over the past year. On June 6, Micron Technology (NASDAQ:MU) secured certification for its HBM4 memory on Nvidia Corp (NASDAQ:NVDA)’s upcoming Vera Rubin AI […]