Former Bridgestone Americas Assistant Treasurer Pleads Guilty to Nearly $15 Million Wire Fraud Scheme

NASHVILLE - Sajju Khatiwada, 45, of Franklin, Tennessee, pleaded guilty today to two counts of wire fraud for carrying out a scheme that caused his former employer, Bridgestone Americas, Inc., to pay nearly $15 million in fraudulent invoices submitted through a fictitious vendor he created, announced United States Attorney for the Middle District of Tennessee Braden H. Boucek.

"This defendant abused a position of extraordinary trust to steal nearly $15 million from his employer and then used those stolen funds to generate millions more in investment gains," said U.S. Attorney Boucek. "Corporate position and financial sophistication are not shields from accountability. Our office and our law enforcement partners will continue to pursue those who use positions of trust to enrich themselves through fraud."

According to court documents, Khatiwada worked at Bridgestone's corporate headquarters in Nashville from April 2016 until April 2024, most recently as Assistant Treasurer, Capital Planning and Funding. As part of his work in Bridgestone's Treasury Operations Department, Khatiwada managed the company's relationships with banks that provided credit card processing services for Bridgestone retail locations across the United States.

In July 2020, Khatiwada created a fictitious vendor, named Paymt-Tech, LLC, registered the company in Nevada under the name of an acquaintance, and opened bank accounts in the fictitious vendor's name. On a monthly basis spanning nearly four years from August 2020 to April 2024, Khatiwada sent fraudulent invoices via email to other Bridgestone employees, falsely representing that Bridgestone owed Paymt-Tech money for purported "service charges." But Paymt-Tech performed no services for Bridgestone, and Khatiwada was not entitled to any of the money.

Relying on the fraudulent invoices, Bridgestone paid a total of $14,923,978.57 into Paymt-Tech accounts controlled by Khatiwada. Khatiwada transferred the fraud proceeds into financial and investment accounts under his control, where the money generated more than $6.1 million in interest, dividends, and other gains. In his plea agreement, Khatiwada admitted that the scheme generated approximately $21 million in total unlawful proceeds and agreed to forfeit that amount to the United States. He also owes restitution to Bridgestone totaling $14,923,978.57, plus interest, with the final amount to be determined by the court.

Khatiwada was arrested in November 2024 and indicted by a federal grand jury in December 2024. He faces up to 20 years in federal prison on each count. U.S. District Judge Aleta A. Trauger scheduled Khatiwada's sentencing for December 22, 2026.

The Federal Bureau of Investigation's Nashville Field Office investigated the case. Assistant U.S. Attorney Chris Suedekum is prosecuting the case.

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