A payroll-processing CEO was accused of a multimillion-dollar fraud scheme and filed for bankruptcy, and now his enormous car collection will be auctioned off to pay the debts.
The ridiculous stash comprises more than 240 cars dating from 1903 to the present, and includes several vehicles worth $1 million or more. The priciest cars include a 1955 Mercedes-Benz 300 SL Gullwing, a 1952 Ferrari race car, a 1969 Lamborghini Miura, an Aston Martin DB5, and a 2006 Ford GT Heritage.
The assortment of cars, dubbed "The Elkhart Collection," will be sold through RM Sotheby's on October 23 and 24. A payroll-processing CEO was accused of defrauding KeyBank and former clients out of millions last year. Now, he's resigned from the company, declared bankruptcy, and hiswill be auctioned off to chip away at more than $100 million in liabilities.
Najeeb Khan — the founder and former head of Elkhart, Indiana-based Interlogic Outsourcing, Inc. — amassed a fortune totaling roughly $98 million, and Khan's 281-vehicle collection accounts for approximately $31 million of that, according to court records reviewed by
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
OMG ! 😳
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla's Elon Musk doesn't behave like any other CEO in the business - Business InsiderEveryone has to accept that Tesla is worth $150 billion precisely because Elon Musk doesn't behave like any other CEO in the business Get off his 🥜 Don’t take drugs kiddies! Cause he post memes no he’s just like the rest
Source: BusinessInsider - 🏆 729. / 51 Read more »
Tesla's Elon Musk doesn't behave like any other CEO in the business - Business InsiderEveryone has to accept that Tesla is worth $150 billion precisely because Elon Musk doesn't behave like any other CEO in the business High on something? Doesn’t mean he gets to have an effect on government decisions Musk has his heart & soul invested in his businesses. Look at it from that point of view. 👀
Source: BusinessInsider - 🏆 729. / 51 Read more »
Under CEO Tony Xu, DoorDash has started new services during the crisis - Business InsiderDoorDash, buoyed by surging demand and ample capital, has launched new services like toilet paper deliveries from convenience stores during the COVID crisis. CEO Tony Xu says it's being 'extremely agile.'
Source: BusinessInsider - 🏆 729. / 51 Read more »
Gilead CEO on remdesivir: manufacturing, pricing for coronavirus drug - Business InsiderGilead plans to spend up to $1 billion to ramp up manufacturing of its coronavirus treatment, but execs dodged Wall Street's questions about turning a profit Big pharma sux.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Poshmark CEO Manish Chandra on why resale is the future of retail - Business InsiderThe founder said Poshmark's business model has enabled it to continue operations through the pandemic and serve its community's need for connection.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Tesla workers reveal CEO Elon Musk's biggest strengths and weaknesses - Business InsiderSeven current and former Tesla employees said Musk is inspiring and gave him credit for Tesla's successes, but also criticized his management style. he's a bit autistic. that's one for both Biggest strength: Money Biggest weakness: Twitter
Source: BusinessInsider - 🏆 729. / 51 Read more »