Ex-Takeda employee convicted of fraud worth millions

A woman who worked at Takeda Pharmaceuticals, the largest biotech company in Massachusetts, was sentenced to prison Thursday for defrauding the company of at least $2.5 million, according to the acting U.S. attorney for Massachusetts , Joshua S. Levy, shared.

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

In June, Bhmabi pleaded guilty to three counts of wire fraud and a single count of conspiracy to commit wire fraud. She and a person who prosecutors allege acted as a co-conspirator were indicted in March 2023.

According to prosecutors, between January and October 2022, Bhambi and another person defrauded Takeda of at least $2.3 million for purported consulting services by submitting fake invoices for a sham consulting company. According to Levy's office, Bhambi had committed a similar fraud in the past with another bogus consulting firm, where she earned nearly $300,000 for consulting services she did not provide.

In February 2022, the person who prosecutors say served as Bhambi's co-conspirator founded Evoluzione Consulting, LLC. Bhambi created a website for the company to make it appear as a legitimate business.

After founding the company, prosecutors said, the two submitted a letter of employment to Takeda, which ultimately led to the company placing a purchase order for consulting services worth more than $3.5 million. According to prosecutors, between March and May 2022, Bhambi and her co-conspirator submitted five invoices for services they did not provide, each worth a total of $460,000, Levy's office said.

When Takeda employees interviewed the couple, they made “false statements about the services supposedly provided by Evoluzione.” Before discovering the fraud, Takeda paid all five bills, Levy's office said.

Prosecutors say Bhambi and her co-conspirator used the $2.3 million they fraudulently obtained from Takeda to purchase luxury items such as a Mercedes-Benz, an engagement ring and a condominium, the filing states Explanation.

“Pure greed drove Priya Bhambi to exploit her highly compensated leadership position at Takeda to steal millions of dollars from the company,” Levy said in a statement.

Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division, added: “Priya Bhambi apparently felt that her salary of nearly half a million dollars at Takeda was not enough, so she orchestrated a complex financial fraud scheme to steal. “Millions more to supplement their paycheck.”

The person who prosecutors say was Bhambi's co-conspirator in the fraud is scheduled to go on trial in December.