ABC News: Trump University encouraged students to commit bank fraud

Discussion in 'Politics, Religion, Social Issues' started by Robisan, Jun 3, 2016.

  1. Robisan macrumors 6502

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    #1
    Trump encouraging people to falsely and fraudulently inflate their income? Why I never!

    Trump University Script Tells Students to Inflate Income

    A Trump University seminar presentation advised students to try to boost their credit card limit by inflating their annual income by $75,000, according to documents made public in federal court this week. The instruction, legal experts said, could amount to a lesson in bank fraud.

    If someone is encouraging people to make a false representation about their current income, that might be an appropriate target for prosecution,” said John W. Moscow, a former head of the fraud bureau of the New York County District Attorney’s Office.

    “If the caller actually does what they were told to do, that could easily be fraud,” agreed Randall M. Fox, who served as the founding bureau chief of the New York attorney general's taxpayer protection bureau.

    ~~~

    “When asked for your income,” the instructor’s script reads, “take your current income and add $75,000 from your real estate enterprise.”

    Moscow, now in private practice, said credit limits are not based on the possibility of future earnings, no more than they would be based “on the chance of holding a winning lottery ticket.”
    [​IMG]
     
  2. Mac'nCheese macrumors 68030

    Mac'nCheese

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    #2
    I'm glad they gave an example of how this complicated math works.
     
  3. Huntn macrumors G5

    Huntn

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    #3
    Knowing The Donald's stellar business reputation this is completely shocking and unexpected. :rolleyes: It had to be an underling responsible, the usual Republican defense, good enough for Reagan and Dubya.
     
  4. rdowns macrumors Penryn

    rdowns

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    #4
    I'm sensing a change in how the media is covering Trump after his unhinged press conference the other day.

    Donny is having a really bad week.
     
  5. Robisan thread starter macrumors 6502

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    #5
  6. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #6
    Technically if you are talking on a phone and not filling out an application and advise that you expect to make x dollars this year while running a side employment enterprise, you haven't misrepresented anything. Any bank that gives you a credit increase off of what you expect to make is likely greasy anyways.
     
  7. Robisan thread starter macrumors 6502

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    #7
    Technically, if you falsely answer the specific questions you are asked in application for credit you are committing fraud. As the article noted, generally credit worthiness is based on current (or past) actual income, not what you expect to make in the future. If current income is what they ask for, answering with your expected income is false and fraudulent.
     
  8. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #8
    The document provided said verbatim "I expect to make $150k this year", if the bank doesn't follow up with the fact that they don't qualify credit increases on expected incomes that is their own fault. This wouldn't hold up in court. The first thing that would be looked at would be any documentation provided to substantiate income.

    "We increased his limit because he told us he expected to make more in the previous year and then didn't" is going to get flushed.
     
  9. Robisan thread starter macrumors 6502

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    Jan 19, 2014
    #9
    Of course, most credit applications are done in writing, where you are answering a written question with a specific number.

    ...but I do appreciate your defense of artfully trying to defraud banks while maintaining plausible deniability. This it the type of roll model America needs as president.
     

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