NEWARK, NJ—A Newark federal grand jury returned an indictment today charging the owner of a Ramsey, New Jersey, car dealership with defrauding customers and banks out of $1.7 million, U.S. Attorney Paul Fishman announced.

Afzal Khan, a/k/a “Bobby Khan,” 32, of Egg Harbor Township, New Jersey, is charged with five counts of wire fraud. Khan, who was initially charged by complaint on Dec. 23, 2014, is still at large.

According to the indictment filed today:

From December 2013 through September 2014, Khan, through his car dealership, Emporio Motor Group of Ramsey, engaged in a number of fraudulent transactions involving Rolls Royce, Lamborghini, Porsche and other vehicles. As part of his scheme, Khan obtained loans from the auto finance division of a large bank for cars that he never delivered, but for which the purchaser was still responsible. Khan also obtained loans for cars that neither he nor Emporio had the title. As a result, the purchasers of these cars were still liable for the loan, but could not register them. In addition, Khan offered to sell cars for individuals on consignment but thereafter did not return the cars or provide any money to the purchaser from the sale.

Altogether, Kahn fraudulently obtained 21 loans totaling more than $1.7 million.

Each count of wire fraud is punishable by a maximum potential penalty of 20 years in prison and a fine of $250,000, or twice the gross gain or loss from the offense.

U.S. Attorney Fishman credited law enforcement officers of the FBI under the direction of Special Agent in Charge Richard M. Frankel in Newark; the Bergen County Prosecutor’s Office under the direction of Prosecutor John L. Molinelli; and the Borough of Ramsey Police Department under the direction of Chief of Police Bryan H. Gurney, with the investigation leading to the charges.

The government is represented by Assistant U.S. Attorney Andrew Kogan of the U.S. Attorney’s Office Economic Crimes Unit in Newark.