India, June 11 -- An Indian-origin financier has been arrested in the United States for allegedly defrauding a federally insured bank of nearly $100 million through a complex financial scheme involving falsified documents, shell companies, and manipulated real estate records, authorities said.

The accused, identified as Mahender Makhijani, 44, was taken into custody at his Newport Beach residence and is facing multiple federal charges that could lead to a prison sentence of up to 30 years if convicted.

According to investigators, Makhijani allegedly misused his position as a real estate financier by falsifying title insurance records, concealing lien positions, and routing transactions through a network of shell companies to mislead a l...