Incredible car collection from suspected fraudster sells for $ 44 million in bankruptcy auction

0
65


At least Najeeb Kahn, a man very interested in money and cars and accused of carrying out a nine-figure financial fraud scheme, knows how much his simply wonderful car collection is worth: $ 44.4 million. At least, that’s what RM Sotheby’s was able to scramble in October after liquidating the majority of its 281-person collection in a bankruptcy auction that will help pay off some of Kahn’s huge debts.In August 2019, Kahn, CEO of Interlogic Outsourcing, an Elkhart, Indiana-based payroll processing company, was accused of causing a $ 90 million overdraft at KeyBank NA by making a series of wire transfers. In October, the charges rose to $ 122 million of overdrafts and non-payment of income tax for its clients. The business was sold that month to a Pennsylvania company.

With all this uncovered, it’s surprising that Kahn had time to accumulate one of the country’s most cheerfully eclectic car and memorabilia collections. But last weekend that collection was disbanded in an unreserved Sotheby’s auction of 240 cars and boxes and boxes of… things. Premium and highly desirable keepsakes, other boxes containing only items.

LEAVE A REPLY

Please enter your comment!
Please enter your name here