The former chief executive officer of a publicly traded healthcare services company was sentenced on May 5, 2026, for his role in a large-scale conspiracy to defraud investors in connection with the purchase or sale of the company’s securities. Parmjit Parmar, a/k/a “Paul Parmar,” 55, of Colts Neck, New Jersey, had pleaded guilty on May 7, 2025, to conspiracy to commit securities fraud. Parmar was sentenced to 60 months’ imprisonment, three years’ supervised release, and ordered to pay more than $125 million in victim restitution. According to documents filed in this case and statements made in court: From May 2015 through September 2017, Parmar and his conspirators, including Sotirios Zaharis, a/k/a “Sam Zaharis,” and Ravi Chivukula orchestrated an elaborate scheme to defraud a private investment firm and others out of hundreds of millions of dollars in connection with the funding of a transaction to take private a healthcare services company traded publicly on the London Stock Exchange’s Alternative Investment Market.