Canadian National Faces Up to 20 Years Jail Term in the US for Wire Fraud

On Monday, 22 April, a Canadian national who was accused of duping investors of about $5 million by posing as a thriving sports drink entrepreneur pleaded guilty of the accusations. While Khemraj Dave Hardat was residing at the lavish Ritz-Carlton Residences in downtown Los Angeles, he posed as an established entrepreneur and defrauded investors of about $5 million. He pleaded guilty to five counts of wire fraud in court and will now be sentenced on 12 August as decided by U.S. District Judge Dale S. Fischer. Though he could get up to 20 years jail term for each count, prosecutors are recommending he is given a maximum of six years and eight months in prison having pleaded guilty. Assistant U.S. Attorney Adam P. Schleifer revealed that Hardat has also agreed to pay restitution of $4.1 million.

Expired Tourist Visa

  50-year-old Hardat entered the US 10 years ago on a tourist visa but refused to leave the country when the visa expired. He was arrested in November 2018 and was detained pending trial. According to court documents, not less than seven investors fell victim of Hardat's plot and were made to wire him a total of $5 million in three years. He promised to invest the funds in his acclaimed businesses but spent the money on personal things and occasionally made part repayment to previous victims just like Ponzi schemes. Hardat poised as a significant businessman who has had deals with PepsiCo and Dr. Pepper, making hundreds of millions of dollars in the process. He solidified this impression with his boisterous lifestyle. Stay in touch and get alerts & emails directly in your inbox by subscribing to Visa Crimes Check here for our latest immigration updates, local immigration activities, emerging trends, visa news updates for Australia, Canada, US, UK, Germany and more.

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