'PPE Funds To Buy Rolexes, Cars': Indian-Origin Couple's Covid Fraud In UK

An Indian-origin couple has been found guilty in the United Kingdom for illegally laundering funds using fraudulent claims of being able to provide personal protective equipment (PPE) during the COVID pandemic. Jogesh Bhandari, 59, and Meenakashi (Meena) Bhandari, 58, were convicted on several counts of fraud and money laundering and using the money to fund their luxury lifestyle 

Their associate, Craig Morris, 43, was also found guilty of representing on behalf of the couple's company in numerous fraudulent deals in 2020 and 2021. All three are due to be sentenced on 21 August.

"The COVID-19 pandemic was a time of uncertainty for the world, and the increased need for PPE equipment was sudden. This gave fraudsters like the Bhandaris and Morris an opportunity to target businesses and line their own pockets. All of this activity occurred at the height of the pandemic, where the demand for PPE went through the roof," said Paul Boniface, operations manager at the UK's National Crime Agency (NCA).  

According to the agency, the fraudsters claimed they could supply millions of boxes of nitrile gloves.

The NCA's investigation found bank records showing Bhandari and his wife used the money to buy Rolexes, jewellery, holiday packages and cars. He reportedly spent Euro 126,000 on a new Porsche. They also used cash for a kitchen refurbishment, the NCA said.

A group who fraudulently claimed to be able to provide PPE during the pandemic but instead spent hundreds of thousands of pounds on house renovations and luxury cars have been convicted after a NCA investigation.

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"Bhandari and his co-conspirators capitalised on these vulnerabilities by exploiting people and businesses for their own financial gain, paying for lavish lifestyles of luxury cars and significant home improvements," said Boniface.  

The agency's probe revealed that Bhandari owned and controlled a company set up in 2020 to buy and sell nitrile gloves during the pandemic, while Morris helped in several fraudulent deals in 2020 and 2021. Bhandari worked with Frank Labruzzo, a US Assistant Attorney General at the Louisiana State Department of Justice, who provided a fraudulent escrow service --a bank account that acts as a holding point for funds that are released when both sides of an agreement have been reached.  

"Fraud like this diverts essential equipment away from genuine organisations, and the effects are far-reaching, beyond immediate losses for the legitimate businesses involved. The NCA will continue to target fraudsters like these who cause significant harm to the UK economy," he said.  

The agency said Bhandari supplied many forged documents to potential suppliers, including bank statements showing up to $125m and letters of attestation to try and persuade businesses to trade with him.

"Bhandari's first fraudulent activity began in November 2020 where he agreed a deal to provide 12 million boxes of gloves. The company paid the escrow account and, rather than funds remaining in the account until the deal was complete, the money was immediately moved, paid to Labruzzo, Bhandari, and other companies," the NCA revealed.  

"In a second deal a month later, Bhandari received a further 2.7 million dollars into the account, and almost 500,000 dollars was withdrawn to pay off his and his wife's debts. Bhandari supplied a number of forged documents to potential suppliers, including bank statements showing up to 125 million dollars and letters of attestation to try and persuade businesses to trade with him," it stated. 

In early 2021, the NCA discovered he was paid more than 3.18 million dollars for an order of nitrile gloves to be delivered to US hospitals that were never delivered. His final fraud took place in late 2021, when Bhandari persuaded a supplier that he was a big player in the PPE industry and had access to hundreds of millions of dollars.  

"The company agreed to a deal worth 1.8 billion dollars, and Labruzzo provided a fraudulent letter to state Bhandari had deposited 35 million dollars as a security against the first delivery. The company then paid 1.35 million dollars for the first two planned shipments," it notes.

In the final deal, Bhandari was found to have received the 1.35 million dollars straight into a business account controlled by his wife from which they bought a new Porsche and used other amounts for kitchen refurbishment and extensive improvements on their home.

"As well as paying off debts, bank records showed the Bhandaris spent hundreds of thousands of pounds on Rolexes and other luxury watches, jewellery, cars including an Audi A5, a Land Rover Discovery and a VW Golf, and worldwide luxury travel and holiday packages. None of the money was used for its intended purpose," the NCA concluded.  

Labruzzo, alongside one other accused, has already been convicted in the US in connection with this scam.