A luxury car dealer of Pakistani origin, who earlier lived in Egg Harbor, New Jersey, was last week charged with defrauding customers and banks to the tune $1.7 million
Afzal Khan, aka ‘Bobby Khan,’ 32, was a dealer of high-end cars like Bentleys, Lamborghinis and Porsches. He was charged with defrauding customers and banks, fraudulently obtaining 21 loans totaling more than $1.7 million.
A Newark federal grand jury returned an indictment June 30, charging Khan with five counts of wire fraud.
New Jersey U.S. Attorney Paul Fishman said that Khan, who was initially charged Dec. 23, 2014, is still at large.
News reports said the high-profile Khan was a minor celebrity, having appeared on the reality television show “The Real Housewives of New Jersey”.
Fishman said that from December 2013 through September 2014, Khan, through his car dealership, Emporio Motor Group of Ramsey, engaged in a number of fraudulent transactions involving Rolls Royce, Lamborghini, Porsche and other vehicles. As part of his scheme, Khan obtained loans from the auto finance division of a large bank for cars that he never delivered, but for which the purchaser was still responsible.
Khan also obtained loans for cars that neither he nor Emporio had the title. As a result, the buyers of these cars were still liable for the loan, but could not register them. In addition,
Khan offered to sell cars for individuals on consignment but thereafter did not return the cars or provide any money to the purchaser from the sale.
Each count of wire fraud is punishable by a maximum potential penalty of 20 years in prison and a fine of $250,000, or twice the gross gain or loss from the offense.
News reports quoting attorney Ira Hirsch, representing the car dealers that Khan transferred cars to, said that the entire case against Khan ‘rises and falls on any extradition treaties we might have with Pakistan.’
He said he is convinced Khan is in Pakistan and said the wire fraud charge might persuade Pakistan to take him into custody, although he added, “I have little faith in the Pakistani government to do the right thing.”