A former high-ranking employee at Takeda Pharmaceutical has admitted to a multi-million dollar scam that siphoned funds from the company through fraudulent consulting fees. Priya Bhambi, a 40-year-old from Brookline, entered a guilty plea on charges of conspiracy to commit wire fraud and three counts of wire fraud just yesterday. According to a statement from the U.S. Attorney's Office in Massachusetts, Bhambi masterminded the embezzlement scheme which ultimately led to Takeda losing at least $2.3 million.
Her alleged partner in crime, who remains unnamed and was not employed by Takeda, apparently teamed up with Bhambi in early 2022 to create a fake consulting firm named Evoluzione Consulting LLC. Right between the period of January 2022 and October 2022, Bhambi along with her co-conspirator, were busy fabricating invoices and fooling Takeda into paying for services that were never actually provided.
According to the indictment, Evoluzione Consulting seemed legitimate with a website and fake blog posts, but it was actually a scheme to defraud. Bhambi convinced Takeda to sign a big services agreement and issue a purchase order for over $3 million. In three months, Takeda paid five invoices of $460,000 each for consulting work that never happened.
The lavish lifestyle that these ill-gotten gains funded included a luxury Mercedes-Benz Model E, a sparkling diamond engagement ring, not forgetting a down payment on a plush $1.875 million condo in the sought-after Seaport district of Boston. There was also a deposit laid down on a wedding venue that made the FBI's list when they issued seizure warrants, capturing a Mercedes and cash around the sum of $1 million, alongside the aforementioned $49,985 that was destined for the wedding venue.
The Justice Department informs that Bhambi could be looking at a maximum of 20 years behind bars, plus supervised release and fines that could reach up to a staggering $250,000 or double the amount defrauded. The date for sentencing is pending, resting in the hands of a federal judge who will pass judgment according to U.S. Sentencing Guidelines and other legal statutes. The prosecutor on the case is Assistant U.S. Attorney Leslie A. Wright from the Criminal Division, while asset recovery is overseen by Carol E. Head, the Chief of the Asset Recovery Unit.
While Bhambi has decided to plead guilty, it's important to note that the charges laid out in the charging documents are merely allegations at this stage. The supposed accomplice is entitled to the presumption of innocence until, if ever, proven guilty in the eyes of the law.
