Guilty of Bank Fraud? Up to 30 years in prison and up to $1,000,000.00 fine.

[deanrd]

All the people that have done similar 'favors' for Trump are now seeing that they too could get a cushy 20 year stay in a federal prison. When you wallow with the pigs you are going to get some shit in your mouth, count on it.

Even someone like Nikki Haley, who is trying desperately to do a good job, is thrown under the bus.
I may not like her politics, but clearly, she is working hard at the job.

Morning Joe said today that he bets Nikki could beat the Dotard for R nomination in 2020.

Something not entirely crazy about that ..

While her politics are suspect, the fact that she would have such a lapse in judgement to work for Trump means I could never vote for her.

 

[DrLove]

While her politics are suspect, the fact that she would have such a lapse in judgement to work for Trump means I could never vote for her.

Agree - At this point nobody with a brain and career ambition wants to work for The Dumpster.

 

[RetiredGySgt]

There is no law that requires you to use money you legally borrowed any way you want unless it is to BUY something that will be collateral on the loan.

You're kidding, right?
There are companies that will loan out 5 or 10 grand that you are on the hook for.

But

When the amount swells to over a hundred grand, then the lender wants to know the risk.

Otherwise, everyone would be asking for million dollar loans and then declaring bankruptcy.

Again his house was the collateral he was free to spend the money on anything he wanted. He could not declare bankruptcy since the HOUSE was the promise of payment.

 

[Manonthestreet]

Banks dont care.....how many home improvement loans go toward vacations........why do you think we had a banking crash,,,,they dont care ....

 

[anotherlife]

Michael Cohen will be found guilty of Bank Fraud. Clearly he committed Bank Fraud.

You can't tell a bank you need a loan for "A" and then use the money for "B". You can only use it for "A".

Michael Cohen took out $130,000.00 loan on his house. The money went to Stormy Daniels. We all know that to be true.

You can bet he didn't tell the bank he was using the money to pay off a porn star his boss had unprotected sex with. And that was what he used the money for. We don't know what he told the bank. But you can bet on what he DIDN'T tell them.

Michael Cohen set up a FAKE company to use for payouts. One payout to Stormy Daniels and multiple payouts to his other client's Playboy Bunny Mistress totalling $1,600,000.00 and you can bet he didn't tell the bank, a federal bank, that he was setting up this fake company for paying off porn stars and Playboy Bunnies for unprotected sex and an abortion.

Without the lies, the bank never would have approved the loans.. That means Michael Cohen lied and committed bank fraud against a Federal Bank to the tune of close to two million dollars, at least.

Michael Cohen will be given the opportunity to cut some time off his sentence. Make no mistake, he is guilty and he will be going to jail and will have to pay a hefty fine. It's only a matter of time. Believe it.

How will this impact Trump? For one, Trump can't pardon Cohen because the charges are NOT in federal court. Cohen is deep in Trump finances. Cohen knows all the skeletons and where the bodies are buried. The questions now are:
Was Trump involved in illegal activities?
Was he a willing participant?
Was Trump's family involved?
Are there documents?
Will Cohen go to jail for 30 years to protect Trump even though Cohen will rarely see his children if ever, for the next 30 years?

And that, USMB Republicans, is what Michael Cohen is facing.

Discuss.

Borrowing for one thing and spending it on another is not fraud. Not intending to repay is fraud.

 

[RetiredGySgt]

Michael Cohen will be found guilty of Bank Fraud. Clearly he committed Bank Fraud.

You can't tell a bank you need a loan for "A" and then use the money for "B". You can only use it for "A".

Michael Cohen took out $130,000.00 loan on his house. The money went to Stormy Daniels. We all know that to be true.

You can bet he didn't tell the bank he was using the money to pay off a porn star his boss had unprotected sex with. And that was what he used the money for. We don't know what he told the bank. But you can bet on what he DIDN'T tell them.

Michael Cohen set up a FAKE company to use for payouts. One payout to Stormy Daniels and multiple payouts to his other client's Playboy Bunny Mistress totalling $1,600,000.00 and you can bet he didn't tell the bank, a federal bank, that he was setting up this fake company for paying off porn stars and Playboy Bunnies for unprotected sex and an abortion.

Without the lies, the bank never would have approved the loans.. That means Michael Cohen lied and committed bank fraud against a Federal Bank to the tune of close to two million dollars, at least.

Michael Cohen will be given the opportunity to cut some time off his sentence. Make no mistake, he is guilty and he will be going to jail and will have to pay a hefty fine. It's only a matter of time. Believe it.

How will this impact Trump? For one, Trump can't pardon Cohen because the charges are NOT in federal court. Cohen is deep in Trump finances. Cohen knows all the skeletons and where the bodies are buried. The questions now are:
Was Trump involved in illegal activities?
Was he a willing participant?
Was Trump's family involved?
Are there documents?
Will Cohen go to jail for 30 years to protect Trump even though Cohen will rarely see his children if ever, for the next 30 years?

And that, USMB Republicans, is what Michael Cohen is facing.

Discuss.

Borrowing for one thing and spending it on another is not fraud. Not intending to repay is fraud.

You gotta remember we are talking about rdean here, I mean he can not walk and chew gum at the same time, so making this claim is par for the course for him and the liberals on this board.

 

[deanrd]

Oh puh leaze.

You can't take out a business loan and use it for vacation.

What is wrong with you people? How can you not know that?

If you take out a business loan, you have to use it for business.

And it's true, you can take out a vacation loan, but they are at most, and I mean most, $35,000 not $130,000.00, try to figure out why.

OMG! Clearly these right wingers have never handled more than pocket change.

 

[RetiredGySgt]

Oh puh leaze.

You can't take out a business loan and use it for vacation.

What is wrong with you people? How can you not know that?

If you take out a business loan, you have to use it for business.

And it's true, you can take out a vacation loan, but they are at most, and I mean most, $35,000 not $130,000.00, try to figure out why.

OMG! Clearly these right wingers have never handled more than pocket change.

Provide a LINK to where the loan was a business loan. He used his house for collateral so he could get however much his house was worth minus what he already owed. And No they do not limit that to a small sum you can get the entire equity out for ANY reason.

 

[evenflow1969]

Michael Cohen will be found guilty of Bank Fraud. Clearly he committed Bank Fraud.

You can't tell a bank you need a loan for "A" and then use the money for "B". You can only use it for "A".

Michael Cohen took out $130,000.00 loan on his house. The money went to Stormy Daniels. We all know that to be true.

You can bet he didn't tell the bank he was using the money to pay off a porn star his boss had unprotected sex with. And that was what he used the money for. We don't know what he told the bank. But you can bet on what he DIDN'T tell them.

Michael Cohen set up a FAKE company to use for payouts. One payout to Stormy Daniels and multiple payouts to his other client's Playboy Bunny Mistress totalling $1,600,000.00 and you can bet he didn't tell the bank, a federal bank, that he was setting up this fake company for paying off porn stars and Playboy Bunnies for unprotected sex and an abortion.

Without the lies, the bank never would have approved the loans.. That means Michael Cohen lied and committed bank fraud against a Federal Bank to the tune of close to two million dollars, at least.

Michael Cohen will be given the opportunity to cut some time off his sentence. Make no mistake, he is guilty and he will be going to jail and will have to pay a hefty fine. It's only a matter of time. Believe it.

How will this impact Trump? For one, Trump can't pardon Cohen because the charges are NOT in federal court. Cohen is deep in Trump finances. Cohen knows all the skeletons and where the bodies are buried. The questions now are:
Was Trump involved in illegal activities?
Was he a willing participant?
Was Trump's family involved?
Are there documents?
Will Cohen go to jail for 30 years to protect Trump even though Cohen will rarely see his children if ever, for the next 30 years?

And that, USMB Republicans, is what Michael Cohen is facing.

Discuss.

Not all loans taken on a house must be used on a house. I have a revolving line of credit on my home in which I can can use for any thing I want with out breaking any laws. I mainly use it to buy investment properties and to fix them. How ever I could use the money to go to Vegas if I wanted and not land in jail.

 

[deanrd]

Oh puh leaze.

You can't take out a business loan and use it for vacation.

What is wrong with you people? How can you not know that?

If you take out a business loan, you have to use it for business.

And it's true, you can take out a vacation loan, but they are at most, and I mean most, $35,000 not $130,000.00, try to figure out why.

OMG! Clearly these right wingers have never handled more than pocket change.

Provide a LINK to where the loan was a business loan. He used his house for collateral so he could get however much his house was worth minus what he already owed. And No they do not limit that to a small sum you can get the entire equity out for ANY reason.

Michael Cohen, Stormy Daniels, and using a home-equity loan for a payoff

What's wrong? Don't know how to use Google? Too lazy? Don't want to know? What is it? Why the determined ignorance?

-----------------From the link:

Banks are required by “Know Your Customer” rules to do due diligence on customers, and transactions over $10,000 can trigger automatic reporting to financial authorities, thanks to rules designed to prevent money laundering and other criminal activity. Cohen may also have had to explain to his bank why he was making the payment.

US bank-fraud statute makes it illegal to “obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises,” and carries a maximum penalty of 30 years in prison or a million-dollar fine.

---------------------

 

[RetiredGySgt]

You did not read your own response figures, he broke no laws and is free to use money borrowed on his house anyway he chooses.

 

[anotherlife]

Michael Cohen will be found guilty of Bank Fraud. Clearly he committed Bank Fraud.

You can't tell a bank you need a loan for "A" and then use the money for "B". You can only use it for "A".

Michael Cohen took out $130,000.00 loan on his house. The money went to Stormy Daniels. We all know that to be true.

You can bet he didn't tell the bank he was using the money to pay off a porn star his boss had unprotected sex with. And that was what he used the money for. We don't know what he told the bank. But you can bet on what he DIDN'T tell them.

Michael Cohen set up a FAKE company to use for payouts. One payout to Stormy Daniels and multiple payouts to his other client's Playboy Bunny Mistress totalling $1,600,000.00 and you can bet he didn't tell the bank, a federal bank, that he was setting up this fake company for paying off porn stars and Playboy Bunnies for unprotected sex and an abortion.

Without the lies, the bank never would have approved the loans.. That means Michael Cohen lied and committed bank fraud against a Federal Bank to the tune of close to two million dollars, at least.

Michael Cohen will be given the opportunity to cut some time off his sentence. Make no mistake, he is guilty and he will be going to jail and will have to pay a hefty fine. It's only a matter of time. Believe it.

How will this impact Trump? For one, Trump can't pardon Cohen because the charges are NOT in federal court. Cohen is deep in Trump finances. Cohen knows all the skeletons and where the bodies are buried. The questions now are:
Was Trump involved in illegal activities?
Was he a willing participant?
Was Trump's family involved?
Are there documents?
Will Cohen go to jail for 30 years to protect Trump even though Cohen will rarely see his children if ever, for the next 30 years?

And that, USMB Republicans, is what Michael Cohen is facing.

Discuss.

Borrowing for one thing and spending it on another is not fraud. Not intending to repay is fraud.

You gotta remember we are talking about rdean here, I mean he can not walk and chew gum at the same time, so making this claim is par for the course for him and the liberals on this board.

I am beginning to think that the more leftist one becomes, the more emotional his thinking becomes, and logic washes out.

 

[Zander]

Any day now!!!!

Right LWNJ's?

 

[anotherlife]

Any day now!!!!

Right LWNJ's?

What is LWNJ? Life within New Jersey? Democratic cesspool?

 

[Zander]

Any day now!!!!

Right LWNJ's?

What is LWNJ? Life within New Jersey? Democratic cesspool?

Left Wing Nut Jobs.

 

[Care4all]

I don't think if he is guilty of this bank fraud that he would get much time in prison...

Truly....people have done so much worse and have gotten a couple to a handful of years for it or just a fine and a bad credit rating for 7 years.

I mean, think about it....he didn;t steal any money, he simply lied about what he was using it for...

and you can see why he would lie about what he was using it for.... to keep under cover his client;s identity and what his client did was also not illegal....

AND Cohen has never been charged with a crime before so a first time offender if he did this.....

But even if he did, without doing the fraud for other illegal reasons, I just do not think he would do jail time....maybe a probationary period? Unless of course there is a bunch of other stuff that he's done...?



Now, if Cohen met with the Russian operatives in Prague, to help them hush up and payoff the DNC and Podesta email Hackers as the Steele field report dossier claims? Then...

LOCK HIM UP!

(and throw away the key!)

 

[Care4all]

Oh puh leaze.

You can't take out a business loan and use it for vacation.

What is wrong with you people? How can you not know that?

If you take out a business loan, you have to use it for business.

And it's true, you can take out a vacation loan, but they are at most, and I mean most, $35,000 not $130,000.00, try to figure out why.

OMG! Clearly these right wingers have never handled more than pocket change.

Provide a LINK to where the loan was a business loan. He used his house for collateral so he could get however much his house was worth minus what he already owed. And No they do not limit that to a small sum you can get the entire equity out for ANY reason.

if he lied on the mortgage application for the use of the loan, that is a form of bank FRAUD. It' been gone over on all the news channels by legal analysts....if you are only watching TRUMP TV(fox) you may not have seen it....

 

[deanrd]

Cohen dropped his other civil lawsuit.

He didn't want to go through discovery during a criminal investigation.

Funny how a lawyer can have so much money from only three clients. And one of those clients said he only paid 10 bucks.

 

[Care4all]

Cohen dropped his other civil lawsuit.

He didn't want to go through discovery during a criminal investigation.

Funny how a lawyer can have so much money from only three clients. And one of those clients said he only paid 10 bucks.

he is a business man and makes his living off of that and not by being a lawyer....that's why most of his emails will not be covered by attorney client privilege.

 

[Care4all]

Cohen dropped his other civil lawsuit.

He didn't want to go through discovery during a criminal investigation.

Funny how a lawyer can have so much money from only three clients. And one of those clients said he only paid 10 bucks.

and maybe he dropped the civil lawsuit against those who claimed he was in Prague BECAUSE as reported, Mueller now has proof HE WAS in Prague?