The first chief financial technology officer of the Office of the Comptroller of the Currency (OCC) has been removed from his position following the discovery of multiple inaccuracies in his resume, including misrepresentations about past employment at major banks.
In March, the OCC announced that Prashant Bhardwaj would head its new Office of Financial Technology as deputy comptroller and chief financial technology officer. The OCC highlighted Bhardwaj’s nearly 30 years of experience in various roles within the financial sector but did not specify any details regarding those positions.
By the summer, reports indicated that Bhardwaj had already departed from his $300,000-a-year position, with OCC veteran Miriam Bazan taking over the newly established office. Investigations by sources such as The Information and Fintech Business Weekly revealed that many of Bhardwaj’s claims regarding his previous employment were inaccurate.
Bhardwaj stated he served as CIO at Fifth Third Bank from January 2006 to March 2010, followed by a similar role at Huntington Bank. However, a spokesperson from Fifth Third confirmed that he had never worked there. Additionally, Bhardwaj asserted he began his career at Citi in 1994 when he would have only been 13 years old.
There are also concerns regarding the legitimacy of Bhardwaj’s educational qualifications and a reported criminal history. The OCC has not yet commented on the scrutiny of its vetting process.