Avid Car Collector Convicted Of $180 Million Fraud Scheme

The scheme continued for several years, leading to a financial loss of almost $150 million to businesses nationwide and Ohio-based KeyBank. Aside from this, Khan also failed to report the income he gained through the scheme on his annual tax return from 2014 to 2017, incurring more fines.

“These types of financial crimes undermine the well-being of our financial institutions and harm our entire community,” said US Attorney Rebecca C. Lutzko. “This office will vigilantly investigate and prosecute persons who conduct such conduct to protect and prevent harm to financial institutions locally and nationwide.”

FBI Cleveland special agent in charge Gregory Nelsen added, “Financial crimes can have serious and long-term consequences. Complex financial crimes that impact the economic well-being of institutions is reprehensible.”

We’re just amazed he got away with it for so long.