Parmjit 'Paul' Parmar, a 55-year-old Colts Neck, New Jersey, healthcare executive, was sentenced to five years in federal prison for leading a $212 million securities fraud scheme from 2015 to 2017. His co-conspirators, CFO Sotirios 'Sam' Zaharis and company secretary Ravi Chivukula, remain fugitives since 2018. The trio inflated their company’s value beyond $300 million through fabricated bank records, fake customers, and shell subsidiaries to secure $212.5 million in investor funds. The scheme collapsed in 2017, leading to the company’s bankruptcy. Parmar pleaded guilty in 2025 and was ordered to pay $125 million in restitution. The U.S. Department of Justice continues to seek Zaharis and Chivukula. The case remains open; tips can be reported to the FBI’s Newark field office or via the DOJ’s public corruption hotline at 1-800-USA-2022.