Edwardsburg Man's $150 Million Fraud Scheme Leads to Imminent Prison Sentence
A Michigan man, Najeeb Khan, has been sentenced to 8 years in prison for a check-kiting scheme that caused losses of nearly $150 million. Khan, the owner of a payroll processing company called Interlogic Outsourcing Inc., wrote checks and made wire transfers between multiple accounts to fraudulently inflate balances. He failed to report income from the scheme on his tax returns and has been ordered to pay $150 million in restitution. The scheme caused significant financial losses to businesses across the country and Keybank of Northern District of Ohio.