Cops: NJ Car Dealer Stiffed Lamborghini Owner On $368K Sale
RAMSEY, N.J. (CBSNewYork/AP) -- A New Jersey car dealer accused of bilking a client out of more than $300,000 has been arrested, Ramsey police said Wednesday.
Anil Iqbal, 36, sold a 2013 Lamborghini on consignment to a Nevada resident for $368,274 in April 2014, but never paid the original owner of the luxury sports car, police said.
Iqbal worked for Emporio Motor Group in Ramsey, which was owned by his brother, Afzal "Bobby" Khan, WCBS 880's Levon Putney reported.
Cops: NJ Car Dealer Stiffed Lamborghini Owner On $300K Sale
Last month, the FBI announced it is offering a $20,000 reward for information leading to Khan's arrest.
Authorities claim Khan defrauded customers of and lenders to Emporio from at least December 2013 through September 2014. More than 75 people have filed complaints against him.
Authorities allege Khan obtained loans for vehicles that he had no title for and sold cars on consignment but never paid the owners or gave the buyers the titles.
Ramsey police Chief Bryan Gurney told Putney he believes Khan has fled the country.
Iqbal was arrested Monday during a traffic stop in Egg Harbor, his hometown. He has been charged with conspiracy to commit theft, theft by extortion, theft by deception and fencing (dealing with stolen property).
He is being held on $1 million bail.
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