Deepak Jain Charged With Major Fraud By U.S. Agency

Deepak Jain Charged With Major Fraud By U.S. Agency

Global Indian Times staff

October 19, 2024

This week, a jury in Washington DC charged Deepak Jain with “major fraud against the United States.“ Jain, 49-years-old, allegedly made “false statements to the U.S. Securities and Exchange Commission (SEC) for his alleged participation in a scheme to deceive the SEC into thinking his company’s data center was certified at the highest rating level for reliability, availability, and security, when it was not,” according to a news release by the Department of Justice.

Jain, of Potomac, Maryland, was the CEO of an unnamed information technology services company that provided data center services to customers, including the SEC. From 2012 through 2018, the SEC paid Jain’s company about $11 million for the use of its data center in Beltsville, Maryland.

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Global Indian Times staff
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