Ex-Takeda employee convicted of multimillion-dollar fraud

A woman who worked for Takeda Pharmaceuticals, Massachusetts’s largest biotechnology company, was sentenced to prison Thursday for defrauding the company of at least $2.5 million, acting Massachusetts U.S. Attorney Joshua S. Levy said.

Priya Bhamby, 40, of Brooklyn, will serve 46 months in prison followed by two years of supervised release. She must also pay $2,585,480 in restitution, forfeit the Mercedes-Benz, more than $1 million in fraud proceeds, a nearly $50,000 deposit on the wedding venue, a diamond engagement ring and a Seaport apartment.

Bhmabi pleaded guilty in June to three counts of wire fraud and one count of conspiracy to commit wire fraud. She and another man who prosecutors said acted as an accomplice were indicted in March 2023.

Between January and October 2022, Bhambi and another man stole at least $2.3 million from Takeda for purported consulting services by submitting fabricated invoices for a fictitious consulting company, according to prosecutors. According to Levy’s office, Bhamby was involved in a similar scam in the past with another fictitious consulting company, where she earned approximately $300,000 for consulting services she did not provide.

In February 2022, a man prosecutors say acted as Bhambi’s co-conspirator to create a company, Evoluzione Consulting, LLC. Bhamby created a website for the company to make it appear like a legitimate business.

After registering the company, the pair submitted technical specifications to Takeda, which ultimately led the company to place a purchase order for consulting services worth more than $3.5 million, prosecutors said. Prosecutors say between March and May 2022, Bhambi and her accomplice submitted five invoices for services they did not provide, each totaling $460,000, Levy’s office said.

When Takeda employees questioned the couple, they “made false statements regarding services purportedly provided by Evoluzione.” According to Levy’s office, Takeda paid all five invoices before the fraud was discovered.

Prosecutors allege Bhambi and her accomplice used $2.3 million they fraudulently obtained from Takeda to purchase luxury items such as a Mercedes-Benz, an engagement ring and an apartment, the statement said.

“Pure greed motivated Priya Bhambi to use her high-paying position at Takeda to steal millions of dollars from the company,” Levy said in a statement.

Jodi Cohen, Special Agent in Charge of the Boston Field Office of the Federal Bureau of Investigation, added: “Priya Bhambi apparently felt that her nearly half-million dollar salary at Takeda was not enough, so she orchestrated an elaborate financial fraud scheme to steal millions more to increase her salary.”

The man who prosecutors say acted as Bhambi’s co-conspirator in the fraud is scheduled to go to trial in December.