US: Indian-origin man pleads guilty to taking $2.5mn in bribes
An Indian-origin man, Bhaskar Patel (67) of Windermere, Florida, has pleaded guilty to taking $2.5 million in bribes and kickbacks from companies seeking contracts to work on energy-saving projects in US government buildings. Patel received bribes when he was a Senior Project Manager for Schneider Electric Buildings Americas. He was responsible for selecting subcontractors that would be awarded a contract under an energy-saving project.
Patel pleaded guilty to two felony charges
The payments were associated with federal energy savings performance contracts issued to Schneider Electric by various federal agencies from June 6, 2011, to April 19, 2016. Patel pleaded guilty yesterday in Federal Court in Rutland to two felony charges, each carrying maximum penalties of 10 years in prison. He remains free on his personal recognizance pending a December 7 sentencing hearing.
Federal prosecutors filed forfeiture totaling $2,536,119 from Patel
As part of a plea agreement, federal prosecutors filed a notice of forfeiture totaling $2,536,119 from Patel, VT Digger, a Vermont news portal, reported. The plea agreement also states that prosecutors have agreed to reduce the forfeiture amount to $1.75 million if Patel pays $950,000 on or before his sentencing. He also faces fines of up to $5,072,238.38, or twice his ill-gotten gains.
Federal prosecutors to seize Patel's properties as part of forfeiture
Among the items, federal prosecutors are seeking to seize as part of the forfeiture, are Patel's property in Windermere, a 2012 Mercedes-Benz E Class E350, a watch, six rings, 43 earrings, 10 bracelets, 18 bangles, six pendants, $35,700, and a timeshare property in South Carolina. Court records indicated that in some cases Patel directed companies to write checks to his adult son and daughter.
About Patel's fraud scheme
David Smith, a spokesman for Schneider Electric, said Patel was terminated as soon as the allegations of wrongdoing came to light. Patel's scheme came to light when law enforcement received information that he had altered and falsified a bid document submitted to Schneider Electric by a Vermont subcontractor bidding for work on an energy savings project at the White River Junction VA facility.
