An Indian-origin couple, Sidhartha "Sammy" Mukherjee and his wife Sunita, have been arrested in North Texas and accused of running a $4 million real estate investment scam that defrauded over 100 people. The couple, who were known in their community for their glamorous lifestyle and Bollywood-style performances, allegedly lured investors with promises of high returns on real estate projects that never existed.
The Mukherjees were prominent figures in the Indian-American community in Plano, Texas, known for hosting high-society events, charity galas, and Bollywood-themed parties. This public image, however, allegedly concealed a fraudulent operation involving fake real estate deals, forged documents, and misuse of pandemic relief funds.
According to reports, the couple enticed victims by offering remodeling contracts and invoices from the Dallas Housing Authority (DHA) to give the impression that their projects were legitimate. However, these documents were later discovered to be forgeries. The DHA confirmed that no such projects existed under their jurisdiction. Victims reported receiving dividend checks that subsequently bounced, and the promised returns never materialized.
The investigation into the Mukherjees began approximately two years ago after several complaints of investment fraud were filed. Initially, these complaints were dismissed as civil disputes. Detective Brian Brennan of the Euless Police Department took on the case after a couple reported losing $325,000 in the alleged scheme. His investigation eventually expanded to include the FBI and federal forensic accountants.
In addition to the real estate scheme, the Mukherjees are also accused of fraudulently obtaining a Paycheck Protection Program (PPP) loan by using a fake company with fictitious employees.
Sammy Mukherjee has denied the allegations, claiming they are driven by jealousy. In 2024, he sent legal notices to CBS News demanding a retraction of their investigative reports, which are now cited in the federal affidavit.
Following their arrest, both Sammy and Sunita Mukherjee posted bail set at $500,000 each. However, Sammy was subsequently detained by U.S. Immigration and Customs Enforcement (ICE), and his current immigration status is unclear. There are also reports of outstanding fraud warrants against him in Mumbai, India.
Investigators are currently examining the couple's financial records, including potential offshore transfers and cryptocurrency activity. However, they believe that a significant portion of the defrauded funds was used to support the Mukherjees' lavish lifestyle, leaving little chance of recovery for the victims.
Detective Brennan described Sammy Mukherjee as "probably the most prolific fraudster I've seen" in his 23 years of experience. The case highlights the devastating impact of investment fraud and the importance of due diligence when considering investment opportunities.
