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Edmund55
Senior Contributor

A soros backed DA scenerio

I purchased a tract of land for $200,000, I reported to my county treasurer office that I paid $200,000; I then told my lender that this same property is worth $2,000,000 so I could get a better interest rate and my lender gave me a loan for $1,500,000 against this property.

I then bought a 5 acre tract with a 50' X 100' machine shed for $100,000, I reported to my county treasurer office that I paid $10,000 for a 5 acre tract and $90,000 for a 50' X 100' shed; I then told my lender that this same property has a 60' X 200' shed and that this same property is worth $1,000,000 so I could get a better interest rate and my lender gave me a loan for $750,000.

And if you believe this fable you might be as dumb as latitia james.

15 Replies
bruce MN
Advisor

Re: A soros backed DA scenerio

Did you leave a paper trail?

rsbs
Senior Advisor

Re: A soros backed DA scenerio

Bruce, did joe and hunter?

classic case of not seeing the forest because of a tree in the way.

 

sam1wiseone
Senior Contributor

Re: A soros backed DA scenerio

Generally speaking, when a bank suspects fraud, like say the cattle it held as collateral are reported missing without a trace, it does whats called a criminal referral to law enforcement.    Has anyone seen the criminal referrals?

sam1wiseone
Senior Contributor

Re: A soros backed DA scenerio

And, a bank, if the note is paid off does not care about the collateral or whether its missing.

bruce MN
Advisor

Re: A soros backed DA scenerio

I like the track loyalists seem to be taking.

Carry on. 

bruce MN
Advisor

Remorse

Actually feeling a bit bad over having interrupted you guys when you are trying so hard to outdo each other. 

Edmund55
Senior Contributor

Re: A soros backed DA scenerio

(Did you leave a paper trail?)

It appears my fable may have sailed on you there bruceQ.......Mmm, just like latitia.

r3020
Senior Advisor

Re: Remorse

Got nothing again do you Brucie Tool.

bruce MN
Advisor

Re: A soros backed DA scenerio