CSG Law Announces Successful Resolution of Securities Fraud Case Against Pavandeep Bakshi
Chiesa Shahinian & Giantomasi PC (“CSG Law”) is pleased to announce that a case brought by the U.S. Attorney’s Office against Pavandeep Bakhshi of the United Kingdom has been successfully resolved.
Mr. Bakhshi, a former member of the board of directors of a healthcare company, was charged in December 2018 with securities fraud in connection with an alleged scheme to defraud investors of $300 million. Following years of motion practice and numerous discussions with the U.S. Attorney’s Office, Mr. Bakhshi’s legal team was able to reach a plea agreement to a superseding information to a single misdemeanor count of delivering a false certificate or writing.
The District Court sentenced Mr. Bakhshi to an unprecedented 0 months, with no probation and no supervised release. He was also ordered to a pay a fine of $5,000.
“This is an incredible win for CSG Law and, more importantly, Mr. Bakhshi,” said Lee Vartan of CSG Law. “We were able to convince the U.S. Attorney’s Office that its $300 million securities fraud indictment was wrong—at least with respect to Mr. Bakhshi—and have it dismissed in its entirety. After a long road, Mr. Bakhshi can finally resume normalcy with his family and his business. His good name has been vindicated.”