Indian National Convicted in $150 Million U.S. Elder Fraud and Money Laundering Scheme

A federal jury in Austin, Texas, has convicted Indian national Bhavesh Kumar Thakkar on two counts related to wire fraud and money laundering in a cross-border elder fraud scheme that moved proceeds in cash and gold through the United States before funds were laundered overseas.

According to the U.S. Attorney’s Office for the Western District of Texas, Thakkar, 45, participated in the scheme from at least September 2022 until 17 September 2025. Prosecutors said call-center scammers based in India obtained money from elderly victims across the United States, while Thakkar acted as a U.S.-based coordinator for receiving and laundering the proceeds.

The Justice Department said Thakkar received some funds personally from couriers and was directly connected to more than $150 million in fraud proceeds. Cash and gold collected from victims were shipped to Los Angeles and New York before being laundered overseas.

Three co-defendants have reached earlier stages in the case. Dhruv Rajeshbhai Mangukiya and Kishan Rajeshkumar Patel were sentenced in 2025 to 97 months and 63 months in federal prison respectively. Rakesh Barot pleaded guilty to conspiracy to commit money laundering and is awaiting sentencing.

The FBI and Granite Shoals Police Department investigated the case. The October 2026 verdict represents a conviction following trial; the Justice Department announcement does not state that Thakkar has yet been sentenced.

Source

U.S. Attorney’s Office, Western District of Texas, “Fourth Defendant Convicted in Indian Call Center Elder Fraud Scheme,” 5 October 2026.