Anybody can write bad checks — but $82 million worth in just two weeks could be a record.
The FBI yesterday busted New York businessman Saquib Khan and charged him with bank fraud after he allegedly wrote a series of bad checks totaling “at least” $82 million.
Khan — the owner of Richmond Wholesale Co., a Staten Island firm that supplies cigarettes, candy and drinks to bodegas, delis and newsstands across the city — repeatedly issued checks during the first two weeks of November from bank accounts that did not have sufficient funds to cover them, officials said.
Six unidentified financial institutions eventually realized they had fallen victim to the alleged scam.
But by then, they had taken a loss of about $20 million, Brooklyn federal prosecutors said.
Khan was released on a $500,000 bond after his arraignment.