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American Greed Podcast

Jersey Car Stealer Dealer

American Greed Podcast

CNBC

True Crime, Documentary, Tv & Film, Society & Culture

4.61.9K Ratings

🗓️ 23 April 2024

⏱️ 20 minutes

🧾️ Download transcript

Summary

A luxury car salesman faces accusations of pocketing car loans and selling cars he doesn't own. (Original air date: 6/30/2016)

Transcript

Click on a timestamp to play from that location

0:00.0

This is the American Greed Podcast presented by

0:02.8

C and B.C. I'm Stacy Kich.

0:07.3

In this episode of American Greed,

0:10.6

Bobby Khan runs a New Jersey dealership featuring cars so exotic.

0:16.0

If you have to ask the price you can't afford it.

0:20.0

A base price of 1.8 million.

0:22.0

Only three people will have it.

0:24.0

Rose Wars Ghost, Lamborghini,

0:27.0

Bobby Kahn is going after the high-end consumers.

0:31.0

But the FBI believes Kahn has zoomed off into the sunset after selling

0:35.9

cars that aren't his. I want my money or want my car. Where is my car?

0:40.3

Everything he did was about stealing money. Since opening in 2013, Emporio Motor Group has been a hot destination for ultra high-end exotic cars in Bergen County, New Jersey.

1:09.0

Emporio owner Bobby Kahn sells pre-owned status symbols on consignment.

1:14.4

In exchange for hosting the cars in his gleaming showroom

1:17.8

and enticing buyers, the cars owners agree to give Kahn a cut of the sale. The way it should work is that you

1:25.1

would get some of the money back for your car. If you had a loan on it, the loan would

1:29.6

be paid off, and then he would also make some money on it so everyone would win.

1:34.0

Yet within its first year of business in Ramsey consigners claim their cars have gone

1:38.8

missing and buyers say when they call to ask for their titles,

1:43.4

instead they get only the runaround.

1:46.1

By the spring of 2014, clients feel the excuses

1:50.0

have worn thin, and some like Peter Winston go to the dealership to demand answers in person.

...

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