The former owner of a car dealership in America, accused of a $1.5 million fraud involving supercars including Lamborghinis, Porsches and Rolls Royces, has been arrested by the FBI in the UAE.
Scottish-born Afzal Khan, also known as Bobby Khan, had been on the FBI’s most wanted ‘white-collar criminals’ list for five years. He was apprehended in Abu Dhabi on Monday and flown back to New Jersey where he will face trial.
In 2015, the 37-year-old was charged with five counts of wire fraud. He is said to have fraudulently obtained 21 loans totalling more than $1.5m but has been on the run ever since.
The case surrounds Khan’s car dealership, Emporio Motor Company. It is alleged he 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, who has previously starred in US reality series ‘The Real Housewives of New Jersey’, obtained loans from the victim bank for cars that were delivered, but for which neither he nor Emporio had the title. The purchasers of these cars were liable for the loans, but could not register the cars.
He also 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 of the car.
Each count of wire fraud is punishable by a maximum potential penalty of 20 years in prison and a fine of the greater of $250,000.