Navin Shankar Subramaniam Xavier duped around 100 investors
MIRAMAR, FL(TIP): The former Chief Executive Officer of Essex Holdings, Inc., Navin Shankar Subramaniam Xavier, a/k/a ‘Navin Xavier,’ a/k/a ‘Dr. Navin Xavier’, 44, of Miramar, Florida, was charged with two separate fraud schemes totaling more than $30 million.
The first scheme involved nearly 100 investors who purportedly purchased interests in sugar transportation and iron ore mining in Chile. The second scheme involved unlawfully obtaining economic development funds from the State of South Carolina, according to the Justice Department.
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and George L. Piro, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, made the announcement, in Florida, September 13, 2016.
Xavier, an Indian American, is charged by indictment with 15 counts of wire fraud. He faces a maximum statutory sentence of 20 years in prison for each count and a fine up to $250,000.