Najeeb Khan essentially gave himself a $150 million dollar loan but will now have to pay it all back alongside $9.8 million in unpaid taxes
A U.S. judge has handed 70-year-old Najeeb Khan a 97-month a 97-month jail sentence for playing fast and loose with bank fraud and tax evasion. His escapades involved swindling a whopping $150 million and amassing a colossal car collection of over 240 vehicles. The collection, which made quite a stir when it hit the auction block as part of RM Sotheby's Elkhart Collection last year, is now part of his colorful history.
With his newfound riches, Khan began to build up a massive, multi-million dollar car collection in the U.S. The collection included a dizzying array of classics and modern cars, including a 1952 Ferrari 225 S Berlinetta, a 1955 Cooper-Jaguar T38 Mk II, a 1953 Fiat 8V Supersonic by China, and three Jaguar continuation cars consisting of a 1957 XKSS, a 1963 E-Type Lightweight, and a 1955 D-Type. The collection was sold by RM Sotheby’s in October 2020 and grossed over $44 million in sales. U.S.
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