NEW ORLEANS — The United States Attorney based in New Orleans, Peter Strasser, announced a 63-month prison sentence for a man who pleaded guilty in an embezzlement case.
According to Strasser’s office, 61-year-old Deepak “Jack” Jagtiani of Metairie pleaded guilty to charges of wire fraud and making false statements on a federal income tax return.
Strasser says that from 2007 through early 2019, Jagtiani worked as the comptroller for a shipping company based in Metairie and paid himself “excessive salaries and benefits” during many of those years. In all, Strasser says Jagtiani collected more than $7,000,000.
Strasser also says that Jagtiani set up a fake catering business to write off bogus losses against a portion of the embezzled money, saving him more than $1.2 million in taxes.
Strasser’s office say that along with the prison sentence, Jagtiani must repay the more than $7 million in embezzled funds and the $1.2 million in unpaid taxes.