Why was Asif Khan sentenced to jail?

Asif Khan was sentenced to six months in prison for contempt of court after pawning a £20,000 Rolex watch, which violated a freezing order.

How much money did Asif Khan steal from his employer?

Asif Khan allegedly stole approximately £1.1 million from his former employer, North of England Coachworks.

What was the outcome of the civil settlement Khan agreed to?

Khan agreed to a £500,000 civil settlement with his former employer but has only repaid about £550.

Home / Crime and Justice / Finance Boss Jailed for Pawning Rolex to Hide Funds

Finance Boss Jailed for Pawning Rolex to Hide Funds

1 Apr

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Summary

A finance boss was jailed for pawning a Rolex to hide it.
He owes his former employer £1.1 million in stolen funds.
Khan was sentenced to six months imprisonment for contempt.

Finance Boss Jailed for Pawning Rolex to Hide Funds

Asif Khan, a former finance boss, has been sentenced to six months in prison for contempt of court. He pawned a £20,000 Rolex watch, a move that violated a freezing order designed to secure funds for his former employer, North of England Coachworks.

Khan is accused of defrauding the company of approximately £1.1 million, with a significant portion allegedly spent on escorts. He had agreed to a civil settlement of £500,000 but has only repaid about £550. The judge cited the pawning of the watch as a deliberate act to place it beyond the company's reach.

Despite Khan's claims of not understanding the freezing order's implications, the judge rejected this, stating Khan's financial sophistication meant he should have known pawning the watch constituted 'dealing with it.' The sentence was postponed to April 17, 2026, to allow Khan an opportunity to lodge an appeal.

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