US charges 3 Indian-origin ex-executives of health tech start up in $1 bn fraud

Washington: Three Indian-origin ex-executives of a Chicago-based health tech start-up have been charged by the federal authorities for their alleged roles in a fraud scheme which involved falsifying the company’s financial performance to raise nearly $1 billion in debt and private equity. The co-founders of Outcome Health Rishi Shah, 33, and Shradha Aggarwal, 34, and former executive Ashik Desai, 26, are among six people accused of fraud “that targeted the company’s clients, lenders and investors,” the US Department of Justice said on Monday. “Outcome’s former executives and employees allegedly deceived lenders,…

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