Parmjit “Paul” Parmar, an Indian-origin investor who once called himself recession-proof as he continued splurging money in 2008, has been sentenced to five years in prison. Parmar pleaded guilty to conspiracy to commit securities fraud that involved inflating revenues, falsifying bank records, and misleading investors in a publicly traded healthcare services company where he served as CEO.

Parmjit Parmar, a 55-year-old Indian-origin man from New Jersey, has been sentenced to five years in jail, followed by three years' supervised release and a payment of $125…

Parmjit “Paul” Parmar, an Indian-origin investor who once called himself recession-proof as he continued splurging money in 2008, has been sentenced to five years in prison.…