BALTIMORE (AP) — A hotel management company operator has been charged with submitting fraudulent loan applications to a Maryland bank to buy millions of dollars in commercial and residential properties.
A court filing Thursday charged Mehul Ramesh Khatiwala of New Jersey with bank fraud and conspiracy to commit bank fraud. The filing, a criminal information, accuses Khatiwala of conspiring with an unnamed doctor and bank executive to defraud Cecil Bank by submitting false information in loan applications.
The filing says the scheme included fraudulent applications to borrow $5 million to purchase a hotel in Memphis, Tennessee; more than $3.2 million to buy a hotel in York, Pennsylvania; and more than $7.1 million to buy residential property in Perryville, Maryland.
Court records don't list an attorney for Khatiwala.