Tech CEO Admits Guilt in $150M Fraud Scheme Targeting Qualcomm

Sanjiv Taneja, the former CEO of a startup, has pleaded guilty to money laundering in connection with a $150 million fraud scheme involving San Diego-based tech giant Qualcomm. Taneja and his co-defendants devised a plan to hide the involvement of a former Qualcomm employee in the startup, allowing them to sell technology that Qualcomm already owned. The scheme involved creating a false narrative that the technology was developed by a Canadian graduate student who was actually the sister of the former Qualcomm employee. Taneja also admitted to asking the former employee for Qualcomm's performance metrics to boost their marketing pitch.