An Indian-origin family running a hotel business in the US secured more than $100 million in loans over nearly three decades despite a history of loan defaults, bankruptcies and court judgments, according to a civil complaint filed by the US Department of Justice. The allegations targeted hotel operators Pankaj Sheth and Rajan Sheth, five other relatives, 21 businesses and eight associates. The 332-page complaint alleged that the family used a network of companies and so-called “straw owners” to conceal their control of hotels and obtain fresh financing even after earlier loans had gone into default.
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