Federal officials say 28-year-old Janzaybe Khan, was living the good life in an illegal $165,000 spending spree until his luck ran out. He used 31 credit cards and spent more than $59,000 on gift cards, precious metals and cash advances.
Some of the proceeds were transferred into Khan’s bank account, while others were transferred to various individuals, according to the U.S. District Attorney’s Connecticut office. Court documents reveal Khan was able to qualify for and utilize 31 credit cards by falsely stating his income, assets, address and employment history.
After maxing out his credit cards, Khan filed for Chapter 7 bankruptcy and attempted to discharge all of his credit card debt.
In his bankruptcy filing with the court, Khan falsely stated that the majority of his debt was the result of gambling losses. Khan also made a number of false statements under oath during an examination by the U.S. Trustee in his bankruptcy case. The U.S. Bankruptcy Court refused to discharge Khan’s debts.
Instead, Khan was arrested on a criminal complaint charging him with bank fraud, conspiracy to commit bank fraud, and making a false oath and false statement under penalty of perjury in a bankruptcy case. The complaint alleges that the financial institutions that issued Khan’s credit cards incurred losses of more than $165,000 as a result of the scheme.
Bank fraud and conspiracy to commit bank fraud each carry a maximum sentence of 30 years imprisonment.
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