Najeeb Khan of Edwardsburg is facing federal charges of bank fraud and attempted tax evasion. The US Attorney’s Office in Indiana says the 69-year-old allegedly wrote checks and made wire transfers for money he did not have, which is known as “check-kiting.” The scheme resulted in $150 million dollars in losses. Kahn is accused of using the money to support his now-defunct Elkhart-based payroll processing business known as IOI. He also used the money to buy cars, vacation homes, and airplanes.
