The U.S. based mortgage broker has also been asked to pay $ 33 million to four financial institutions (namely Franklin Bank, First Tennessee Bank, Wells Fargo Bank and EMC Mortgage Co.) after he was found guilty of fraud.
Besides producing a film, Taneja has also been active in promoting the shows of Bollywood stars like Shahrukh Khan, Aishwarya Bachchan etc. in the US. He has been accused of defrauding home owners and cheating immigrants with fake home loans and using the same money to organize Bollywood shows.
The producer of the 2006 smash hit Aap Kaa Surroor- The Moviee has accepted the charges levied on him and apologized for his conduct.