Judge Dismisses Fraud Charges Against Former Lexington Resident

LEXINGTON, MA -- A U.S. District Court judge in Boston dismissed the 13th and final charge against a former Lexington resident whose jewelry business once counted Ben Affleck and former President Bill Clinton among its customers. Raman Handa had been accused of falsifying inventory records in an alleged scheme to defraud creditors out of $7 million. The previous 12 charges against him were dismissed in July.

Handa, who owned the Cambridge-based Alpha Omega chain of jewelry stores, abruptyly left the U.S. for India in late 2007. Between May and December of that year, his business faced "severe financial troubles, and had difficulty keeping current with loans it had with several banks," according to the U.S. Attorney's office. He was indicted in 2011 and arrested at Los Angeles International Airport in December of last year when he returned to the U.S. after nearly a decade of living in India.

In dismissing the last charge against Handa, the judge ruled that the government had violated Handa's Sixth Amendment Right to a speedy trial by failing to arrest him in a timely fashion. Since being arrested, Handa had been free on $1.2 million bond and was wearing a GPS monitoring anklet. Conditions of his release prevented him from traveling outside Massachusetts.

Subscribe to Lexington Patch for more local news and real-time alerts.

In an interview with India New England News, a spokeswoman for the U.S. Attorneys office declined to comment on whether or not the government would appeal the judge's decision. A conference is scheduled for Wednesday to review the terms of Handa's pretrial release and consider whether or not restrictions should be lifted.

Handa was known for driving hosting lavish Garden parties at his Lexington mansion and drove a high-end, late-model Mercedes, according to a 2008 Boston magazine article. Prior to the downfall of business, Handa was a prominent figure in the region's Indian-American community and philanthropic circles. His sudden departure and nearly 10 years living in India shocked friends, who told the magazine it was out of character for Handa.

"Mr. Handa is very pleased with the court’s decision today," Handa’s attorney, Martin Weinberg, told Indian New Egland News through an associate. "The court’s decision was compelling validation of Mr. Handa’s 6th Amendement right to a speedy trial."

Photo of U.S. District Court building in Boston by Mbfitz via Wikimedia Commons.