Franklin Man Charged with Defrauding Bridgestone of Nearly $15 Million

Franklin Man Allegedly Defrauds Bridgestone of Nearly $15 Million

Franklin, Tennessee, is buzzing today with news of a scandal that has left many scratching their heads. A former employee of Bridgestone Americas, Inc., _Sajju Khatiwada_, is facing serious federal charges after reportedly pulling off an astonishing scheme to defraud the company out of approximately _$15 million_ over a span of four years.

The Background

So, who is this _Khatiwada_ guy? Well, he’s a 43-year-old finance executive who started working with Bridgestone back in 2016. Over his tenure, he held quite a few positions before settling into the role of assistant treasurer. This position gave him the significant responsibility of overseeing payments for _bank fees_ and _credit card processing fees_.

The Scheme Unfolds

Fast forward to the summer of 2020, when Khatiwada allegedly hatched a plan so audacious that it sounds like it could be straight out of a movie script. He created a fake company called _Paymt-Tech, LLC_ and started crafting fictitious invoices for nonexistent _bank fees_. Can you imagine? Using his Bridgestone email account, he initiated payments to this phony company, and, shockingly, the invoices were approved month after month!

This sneaky operation carried on from August 2020 until Khatiwada decided to leave Bridgestone in April 2024. It wasn’t until about two months post his departure that the company’s accounting team noticed something was off. They observed a _significant decrease_ in the monthly bank fees they were paying. This triggered an investigation which eventually unearthed this colossal fraud.

FBI Investigation

The _Federal Bureau of Investigation_ jumped into action, tracing back 47 fictitious invoices that amounted to an eye-popping total of _$14,923,978.57_. The ramifications of this entire situation could be severe for Khatiwada. If he’s convicted of both wire fraud and money laundering, he may face up to _30 years in federal prison_. On top of that, he could be slapped with fines reaching up to twice the amount of money he laundered—nearly _$30 million_! Talk about serious consequences!

Official Statements

Thomas Jaworski, acting United States Attorney for the Middle District of Tennessee, recently announced the charges against Khatiwada after the criminal complaint was made public. This incident has undoubtedly sent shockwaves not just through Bridgestone but the entire Franklin community.

The Takeaway

As more details emerge about this case, it serves as a stark reminder of the importance of oversight and vigilance in financial operations. It’s a classic case of how one individual can exploit trust and responsibility for personal gain, leaving a large corporation—and potentially many employees—vulnerable to significant losses.

Keep an eye on this unfolding story as authorities and Bridgestone continue to investigate the incident. With federal investigations underway, there’s no telling what revelations might come to light next. For now, the Franklin community can only watch and wait, hoping for justice to be served.