NEWARK, N.J. — A New York City man has been charged with wire fraud and aggravated identity theft for allegedly using stolen personal information to obtain fraudulent business loans totaling $150,000, federal prosecutors said.
Humza Khan, 28, of New York, appeared in Newark federal court on July 2 and was released on a $100,000 unsecured bond, U.S. Attorney Alina Habba announced.
According to court documents and statements made in court, Khan submitted multiple loan applications in December 2020 using the personal information—including the name and Social Security number—of an elderly Hudson County, N.J. resident without authorization. The false applications were used to secure financing for a Florida-based specialty pharmacy in which Khan held a financial interest.
The fraudulent misrepresentations led lenders to issue approximately $150,000 in funding, prosecutors said.
Khan is charged with one count of wire fraud and one count of aggravated identity theft. The wire fraud count carries a maximum sentence of 30 years in prison and a $1 million fine or twice the gross gain or loss. The identity theft charge includes a mandatory minimum sentence of two years, served consecutively, and a fine of up to $250,000.
The U.S. Postal Inspection Service, IRS-Criminal Investigation, and FBI participated in the investigation.
The case is being prosecuted by Assistant U.S. Attorney George Brandley of the Health Care Fraud and Opioids Enforcement Unit.
Federal prosecutors say a New York man used a New Jersey senior’s identity in a $150K loan fraud scheme.