Too Good to be True II

John P Contini Answers Your Legal Questions
I exaggerated my income on a mortgage loan application. Could I get in trouble if someone finds out?

Absolutely! Exaggerating income and lying about anything on a mortgage/credit card/bank loan application is fraud, and you may not know that “bank fraud“ and “mortgage fraud“ are both federal felonies. And if you used the phone, fax machine, U.S.Mail or email to correspond with the
involved loan officials, they can add two more federal felonies to your indictment, “wire fraud” and “mail fraud.” If you then deposit the loan money into a bank account – any kind of account, you are then looking at “money laundering!” It’s almost hard not to commit “money laundering” today, and sadly, most people have no clue how easy it would be for the federal prosecutors to indict them overnight.

John P. Contini & Associates, P.A.
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Ft. Lauderdale FL 33316
954.766.8810
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John@jpcontini.com
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