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– Newark, N.J.
A luxury car dealer in Ramsey, New Jersey who opened his store with
great fanfare in April 2013 featuring reality TV stars, has been
charged with defrauding customers and lenders to the tune of nearly $2
million. Investigators are still looking for Afzal Khan, aka “Bobby
Khan”31. Some of his victims say he is of Pakistani origin and might
be hiding in that country.
Khan, of Egg Harbor Township, New Jersey, was charged by complaint
with one count of wire fraud which carries a maximum potential penalty
of 20 years in prison and a fine of the greater of $250,000 or twice
the gross profits to Khan or twice the gross loss suffered to the
victims of the offense.
According to the complaint unsealed in Newark federal court Dec. 23,
Khan allegedly used his Emporio Motor Group to defraud lenders and
customers in the period between December 2013 and September this year.
The U.S. Attorney for the District of New Jersey Paul Fishman, in a
release, alleged 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. He also obtained loans from the bank
for cars that were delivered, but for which neither he nor Emporio had
title. As a result, the purchasers of these cars were liable for the
loan, but could not register the vehicles. In addition, Khan offered
to sell cars for individuals on consignment, and then neither returned
the cars nor provided any money from car sales.
For example, Emporio submitted a loan application in February 2014 for
approximately $150,000 in connection with the sale of a 2013 Rolls
Royce. The victim who had intended to purchase the car had signed the
necessary paperwork for the purchase and financing of the car, but
never received the vehicle. Khan himself sent some loan payment
checks—some of which he stopped or were returned for insufficient
funds—but failed to pay the balance on the car. The true owner of the
Rolls Royce told law enforcement that it had never even been sold to
Khan or left the owner’s possession.
As a result of Khan’s actions, the bank is exposed to a potential loss
of more than $1.7 million, the release said. To date, more than 75
individuals have filed complaints concerning Khan’s actions at
Emporio.
A September report in Northjersey.com, quoted Vijay Thakkar, 49, of
Wayne, saying Khan told him his 2014 Porsche Panamera had sold on July
29 for $97,000, but he was yet to receive any payment. Meanwhile,
Thakkar still had $89,000 of the loan on the car to be paid off. When
he met Khan on Sept. 15, just days before the dealership was closed,
the car dealer told him, “I can’t tell you where your car is and I
can’t pay your loan,’ “ Northjersey.com reported.
Khan appears to have put on a big show when he opened Emporio,
marshalling caste members from reality TV shows like “The Real
Housewives of New Jersey” and “Jersey Shore” to pose with luxury cars.
Khan even appeared on “The Real Housewives” in a segment to discuss
the repair of a Bentley, according to news reports.
Meanwhile, the case is proceeding through a court in Hackensack, N.J.
where in a Dec. 18 hearing victims of Khan’s alleged doings recounted
their plight.