A former high-ranking employee at Takeda Pharmaceutical Company Limited has been sentenced to serve a term of 46 months in prison, following a costly embezzlement plot that netted at least $2.5 million from the company, the U.S. Attorney's Office announced. Priya Bhambi, 40, of Brookline, Mass., was handed the sentence on top of a required two years of supervised release, and an order to pay restitution in the amount of $2,585,480.
The court also demanded forfeiture of a Mercedes-Benz E-Class, seized bank account funds exceeding $1 million, a $49,985 wedding venue deposit, a luxury condo, and a diamond engagement ring – all purchases linked to the embezzlement scheme. Bhambi, a once trusted member of Takeda's technology operations group, had previously plead guilty to one count of conspiracy to commit wire fraud and three counts of wire fraud. Her sentencing comes as a stark reminder of the harsh consequences for corporate embezzlement, while her alleged conspirator also faces trial beginning December 2, 2024.
According to Acting United States Attorney Joshua S. Levy, "Pure greed drove Priya Bhambi to take advantage of her senior-level, highly compensated position at Takeda to steal millions of dollars from the company." Levy stressed the importance of company compliance in reporting such fraudulent activities, resulting in swift legal action and asset recovery. Meanwhile, Jodi Cohen, Special Agent in Charge of the FBI's Boston Division, underscored that Bhambi's substantial legitimate income was not enough to deter her fraudulent actions.
The complex scheme involved Bhambi and an accomplice allegedly creating a fictitious consulting firm, Evoluzione Consulting LLC, to submit false invoices to Takeda for non-existent services. Between January 2022 and October 2022, roughly $2.3 million was fraudulently transferred to business accounts for these supposed services, before Takeda uncovered the deception. In a collaborative effort, the U.S. Attorney's Office, with the assistance of the FBI and the cooperation of Takeda, managed to expose the fraud and bring Bhambi to justice.
While the criminal case against Bhambi has concluded, her co-conspirator still awaits their day in court, maintaining a presumption of innocence until proven otherwise. The case against Bhambi was prosecuted by Assistant U.S. Attorneys Leslie A. Wright and Mackenzie A. Queenin of the Criminal Division, while Carol E. Head, Chief of the Asset Recovery Unit, dealt with the forfeiture proceedings tied to Bhambi's criminal enterprise.
