Rishi Shah and Shradha Agarwal are two Indian-born American businesspeople, know their 2023 net worth
Find out more about his background, career, and much more.
Two Indian-origin executives of a Chicago-based start-up were found guilty by a federal jury in the US of carrying out a $1 billion corporate fraud conspiracy that was directed at the company’s customers, lenders, and investors.
Who are Rishi Shah and Shradha Agarwal founders of Outcome Health: Net worth in 2023, bio, age and education
The curse of @Forbes X under X (this time 40 under 40) strikes again. Both, Rishi Shah and Shradha Agarwal of Outcome Health were convicted of fraud today.
Back in 2017, Forbes described their company as
"Founded in 2006, Outcome Health is building the world’s largest platform… pic.twitter.com/DEmk27Zk34— Vikas Chowdhry (@english_august) April 11, 2023
Rishi Shah, the former president, and co-founder of the health technology company Outcome Health, was found guilty on 19 out of 22 counts, while Shradha Agarwal was found guilty on 15 out of 17 counts. Brad Purdy, the former COO, was found guilty on 13 out of 15 charges.
The conviction was reached following a 10-week trial. Shah was held responsible for several offenses, including wire fraud, mail fraud, money laundering, and bank fraud. Agarwal was found guilty on charges related to wire fraud, mail fraud, bank fraud, and making false claims to a financial institution, and Purdy was held responsible for the same offenses.
While charges of wire fraud and mail fraud can result in a 20-year jail term, offenses of bank fraud carry a 30-year maximum punishment. Since then, Rishi Shah and Shradha Agarwal have become trending topics of discussion, with many people trying to find out more about them. So, here’s what we know about them:
Who are Rishi Shah and Shradha Agarwal?
Rishi Shah and Shradha Agarwal are Indian-born American businesspeople. They have been in the news because they were convicted of carrying out a $1 billion corporate fraud conspiracy.
Rishi attended Harvard University and Northwestern University.
Rishi Shah is an American fraudster and former chairman and CEO of Outcome Health, which he co-founded.
Born: 1986 (age 37 years), Oak Brook, Illinois, United States
Parents: Upendra Shah, Sonal Shah
Organization founded: Outcome Health
Education: Northwestern University (dropped out)
Rishi Shah is the founder and chairperson of Outcome Health, while Shradha Agarwal is also a founding member of the company. The company was based in Chicago, Illinois. A new business called PatientPoint Health Technologies was created via the merger of PatientPoint and Outcome Health.
PatientPoint is a reputable supplier of technologically enhanced patient engagement solutions that enhance the total patient journey and healthcare experience. Their products are designed to improve relationships between healthcare professionals and patients, providing significant benefits to healthcare sponsors, professionals, and patients.
Both Rishi Shah and Shradha Agarwal are 37 years old.
In 2017, Forbes estimated Shah’s net worth at $3.6 billion based on his 80% stake in Outcome Health before he was sued by investors.
As a result of their fraudulent activities, the company overstated revenue figures in 2015 and 2016 and used that to secure financing in millions of dollars and in April 2016, they secured USD 110 million in debt financing. Later in December 2016, they raised an additional USD 375 million in debt financing and in early 2017, the company received USD 487.5 million in equity financing.