NEWARK, New Jersey — A fugitive luxury car dealer accused of defrauding customers and banks out of $1.7 million has been indicted by a federal grand jury.
The indictment handed up Tuesday charges Afzal "Bobby" Khan with five counts of wire fraud. He could face up to 100 years in prison if convicted on all counts.
The 32-year-old Egg Harbor Township man operated the Emporio Motor Group of Ramsey. Prosecutors say he engaged in several fraudulent transactions involving Rolls Royce, Lamborghini, Porsche and other vehicles from December 2013 through September 2014.
Authorities allege Khan obtained loans for vehicles that he had no title for and sold autos on consignment but never paid the owners or gave the buyers the titles.
Altogether, Kahn is accused of fraudulently obtaining 21 loans totaling more than $1.7 million.