Charter member accuses president of threats, conflicts of interest, and financial irregularities.
By AB Wire
A complaint by a charter member has alleged threats, conflicts of interest, and financial mismanagement at a key chapter of one of the world’s most prestigious entrepreneurship networks.
The organization in question is TiE New York, one of the largest chapters of the global nonprofit network The Indus Entrepreneurs (TiE).
Founded in 1992 in Silicon Valley, TiE has grown into a global network with 61 chapters in 14 countries and more than 15,000 members.
A formal complaint filed on October 1, 2025, by Kesav Dama, a longtime charter member, alleges a pattern of misconduct, governance failures, and financial irregularities under the leadership of current president Jignesh Patel.
The 12-page letter, submitted to the board and shared with TiE Global leadership, details alleged threats, conflicts of interest, and questions over who holds power within the organization.
Disclosure: Dama is a contributing writer to The American Bazaar. He declined to comment for this article. Patel also declined to comment during a phone call.
The most serious allegations focus on Patel’s conduct toward the complainant and other members. According to text message screenshots included in the complaint, Patel allegedly issued explicit threats to damage the complainant’s professional relationships within TiE’s network.
One message cited in the complain, dated April 2, 2025, reads: “I can call Ashish and shut down anything you have going on with him. Same goes for Ranu.”
The American Bazaar could not confirm the identities of Ashish and Ranu.
The complaint claims these weren’t empty threats — they allegedly escalated into phone calls and public confrontations at TiE events. For an organization founded on collaboration and mutual support, such conduct would represent a fundamental betrayal of its values, Dama wrote in the complaint.
According to the letter, when confronted, TiE board member Dharti Desai told the complainant that Patel had no authority to use her name in such threats — a detail that, the complaint says, raises questions about whether chapter leaders are acting with genuine institutional backing or merely leveraging perceived influence.
Beyond personal disputes, the complaint alleges a pattern of blurring the line between TiE business and personal interests.
Dama claims that Patel used his position as president to seek personal favors — including job placements for associates, real estate advice, and, most concerningly, investor introductions for his own startup, Thimble.
Here are additional details from the complaint:
Both Patel and former TiE New York president Manjusha Tipre reportedly invested in Thimble. Meanwhile, Desai — a former board member — allegedly promoted Thimble investment opportunities while also serving on the committee that reviews new member applications.
“The appearance that investing in a startup could lead to influence or leadership positions risks undermining TiE’s integrity,” the letter states.
The membership vetting process is another point of contention. The complaint cites the case of a charter member nominee whose application was reportedly rejected over a tax-related misdemeanor.
Yet, according to the complaint, other individuals with more serious legal histories have been allowed to hold leadership positions within the chapter.
The complaint also raised concerns about financial transparency, citing two specific incidents.
TiE New York’s flagship fundraising event reportedly cost $150,000 to stage but ended with a striking $40,000 loss. The complaint questions whether such lavish spending furthered the chapter’s mission of supporting entrepreneurs, primarily boosted the profiles of its leaders.
Initially, the chapter’s 2024 financial report showed a modest surplus. However, the complaint alleges that this was achieved through questionable accounting — specifically, by recording $20,000 in “accounts receivable” from sponsorships that had not actually materialized.
Dama called for an independent financial review to ensure compliance with nonprofit standards.
The complaint notes that, despite TiE Global’s requirement that members join the chapter where they reside, TiE New York has welcomed members from New Jersey and even Phoenix. It argues that this practice dilutes the influence of actual New York residents, citing a planned Queens College event that was canceled because it was deemed inconvenient for New Jersey members.
The complaint states that the election structure may be even more problematic. Only board members can elect the chapter president, and only committee members can serve on the board. This, the complaint says, creates a self-perpetuating leadership class insulated from the broader membership.
The complaint makes a series of demands:
- Patel should resign voluntarily, or be removed by a board vote.
- An interim president should be appointed
- Individuals pitching investments must be barred from serving on membership committees.
- Residency requirements must be enforced.
- An independent financial review must be conducted.
- Election procedures must be reformed to include all members.
The letter also included a legal warning: under New York law, nonprofit board members can be held personally liable for officers’ misconduct if they are aware of wrongdoing and fail to take action.