Orrick White Collar Team Featured for Major Success in Securities Fraud Case Involving Pavandeep Bakhshi

6 minute read | August.07.2023

  • In this Law360 feature, a team led by partner Franklin Monsour is credited with a five-year effort that reduced an alleged $300 Million securities fraud indictment against our client to a single misdemeanor and a $5,000 fine.
  • The case involved Pavandeep Bakhshi, also known as Pav Bakhshi, a citizen of the United Kingdom who was indicted in December 2018 in an alleged $300 million securities fraud scheme involving the go-private sale of a Healthcare billing company.
  • Franklin served as lead counsel for Mr. Bakhshi from the early stages of the case, filing pretrial motions on his behalf and arguing that he stood indicted because of a codefendant’s self-serving confession—which attempted to cast blame on Mr. Bakhshi. After extensive negotiations, the legal team ultimately convinced the Government to dismiss the indictment in full, with Mr. Bakhshi pleading to a single misdemeanor with no loss amount and no victim.
  • The district court judge agreed with Franklin’s arguments that Mr. Bakhshi should receive a rare sentence of only a fine and no incarceration, no probation and no supervised release.
  • Franklin told Law360 the result was a “great outcome” for the client.

The Orrick team included of counsel Kristina Arianina and associate Alison Epperson. Lee Vartan of Chiesa Shahinian & Giantomasi PC and Kenneth A. Caruso of Mukasey Frenchman served as co-counsel.

The Government’s Indictment continues against codefendants, Paul Parmar, Sam Zaharis, and Ravi Chivukula in US v. Parmar, et al., 2:18-cr-00735-MCA (Dist. N.J.).

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