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/biz/ - Business & Finance

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23766491 No.23766491 [Reply] [Original]

I obtained a $20K PPP loan fraudulently and the bank closed my account and said they were escalating the case. What kind of time/punishment would I be facing for this? I didn't quite understand the implications of the loan and thought it would be something I could just pay back over time. I have no prior criminal record.

>> No.23766501

The account was closed in August.

>> No.23766529

>>23766491
>False statements in a PPP application may also subject violators to up to 20 years' imprisonment and a $250,000 fine for wire fraud (18 U.S.C. §1343) and mail fraud (18 U.S.C. §1341), and up to 30 years' imprisonment and a $250,000 fine for bank fraud (18 U.S.C. §1344), among other things.

>> No.23766533

>>23766491
>False statements in a PPP application may also subject violators to up to 20 years' imprisonment and a $250,000 fine for wire fraud (18 U.S.C. §1343) and mail fraud (18 U.S.C. §1341), and up to 30 years' imprisonment and a $250,000 fine for bank fraud (18 U.S.C. §1344), among other things.

>> No.23766540

>>23766529
Would that be for everyone? Not just people that took upwards of 100K to 1M?

>> No.23766548

>>23766491
>False statements in a PPP application may also subject violators to up to 20 years' imprisonment and a $250,000 fine for wire fraud (18 U.S.C. §1343) and mail fraud (18 U.S.C. §1341), and up to 30 years' imprisonment and a $250,000 fine for bank fraud (18 U.S.C. §1344), among other things.

>> No.23766555

>>23766491
Throw it all in BTC and transfer to a hardware wallet by the time you get out you can pay it back and still have $10m+

>> No.23766583

>>23766491
You're done. It's over. Finished.

>> No.23766613

>>23766540
I dunno man but I wouldn't fuck around with defrauding the government..
Don't tell anyone about the fraud. Get a lawyer and tell them you made an honest mistake.

>> No.23766635

>>23766613
Yeah, I'm guessing that's what I'll have to do. I'm such a dumb fucking sheep.

>> No.23766645

>>23766491

Okay op, what did you do with the money? Why did you think this was a good idea? Some other anon a month back did the same thing but he was told to do so by some scammer in exchange for 1k. You're looking at some serious jail time and fines if this isn't a larp.

>> No.23766684

>>23766645
My brother said he had a friend helping people get forgivable loans. When he got his loan deposited into his account I thought why not try it. Some of his friends were denied so I was thinking, I don't have much to lose. I basically fucked myself over because I thought I wasn't even gonna get it. I guess the universe wanted me to see my folly.

>> No.23767152

Start stretching your butthole

>> No.23767224

But it all in bit coim amd bail the states ASAP

>> No.23767247

>>23766529
say goodbye to ur rectum OP

>> No.23767279

>False statements in a PPP application may also subject violators to up to 20 years' imprisonment and a $250,000 fine for wire fraud (18 U.S.C. §1343) and mail fraud (18 U.S.C. §1341), and up to 30 years' imprisonment and a $250,000 fine for bank fraud (18 U.S.C. §1344), among other things.

>> No.23767294
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23767294

>>23766491
Unrelated but will I go to jail if I bet on the elections?

>> No.23767336

>>23766635
its too late we've already logged this thread as an admission of guilt. Please make yourself free for a visit from agent Rosenburg tomorrow

>> No.23767353

>>23767336
this. OP isnt even using a VPN.
he'll get a minimum of 10 years in prison
no way he gets probation for this.
its mandatory prison time.
im not even joking.

t. lawfag

>> No.23767385

>>23767353
I have no criminal record though.

>> No.23767432

>>23767385
>*Murders a person*
>"But your honor, i have no criminal record"

>> No.23767433

>>23766555
based

>> No.23767466

>>23767432
It's a loan not a murder

>> No.23767520

>>23767432
hopefully this is the post that helps OP to understand how the only 2 things a SMART GUY would never gamble with are:

1) his health
2) HIS FREEDOM

>>23767385
youre going to get your ass kicked in prison, probably raped too. i suggest keeping your head down and reading a shit ton of books to keep you busy. you are going to fucking prison dumb ass theres no way around that. and dont think for a minute that some kike lawyer will get you out of this one. best you'll be able to get by with is probably a decade behind bars. i wish i was joking but if you arent larping you are in more trouble than you can imagine dude.

my suggestion, turn all of your crypto into BTC, then cipher your private keys and get them tattood on your leg. dont rely on anything except yourself. if you keep them on a computer or a cloud, it could be compromised. the only route is tattood keys but dont forget how to decipher them. that way at least when you get out of prison you will 100% have guaranteed money. if anyone asks you abuot the tattoo in prison,. tell them you lost a bet and had to have gibberish scribbled on you. never talk about crypto while youre locked up either.

youre welcome btw for this priceless life advice that at least gives you a pot of gold at the end of the gay rainbow that is life in prison hell youll have to endure before you get the chance to spend any of it.

>> No.23767587

>>23767520
meant to be more specific about the tattoo location since i know for a fact youre retarded.
get the tattood on your thigh top side where your boxers will cover. make sure the text is big enough to account for wear on the tattoo. so when you login to your wallet you just read the key off your leg and decipher it with whatever encryption method you used to cipher it. i suggest double playfair ciphers and then swap the 3rd character for the last character in the key as a failsafe to prevent cracking attempts on it. etc.

dont get it tattood anywhere other than the top of your thigh above the boxer line.

dont fuck with me on this, this is the only scorched earth key method that you can know for a fact wont get you ass rekt in the end.

>> No.23767593

>>23767520
I'll probably just kill myself. Thanks for that though, I'll screencap just in case.

>> No.23767621

>>23767593
nah dont bite the bullet. you'll be a Count of Monte Cristo if you make it thru prison.
time in jail can be good for a man anyways.
its a trial by fire. it will 100% make you into a real man if you can endure it.
its pretty bad at first but you get used to it.

t. ive spent 4 years of my life in jails but it was worth it because now im a millionaire thanks to crypto.

>> No.23767632

>>23767621
How old were you then and how old are you now? I'm 20.

>> No.23767761

>>23767632
my first run in with the law was 15yo, spend a few weeks in juvenile detention
next up was about 20yo got in with a bad bitch and got caught with drugs and shop lifting - did a few weeks in jail here
mid 20s i got more serious drug charges, did 11 months 29days back to back
late 20s, fucked up some more bc of bad friends, did lots more time for drug charges

the best part about jail is you have all the time to read whatever you want depending on the library program where you are locked up.
but youre going to be going to prison so you'll have 2 for 1 days. so youll end up doing half the time you are sentenced, so likely 5 years.
prisons libraries have tons of educational shit in them, so reading selection is worth it.

the people you'll meet locked up is also really wild. the sheer diversity of how bad people can fuck their lives up will dawn on you real quick depending on how many ppl you meet. the jails are dungeons, just dont make the mistake of chimping out and getting bad behavior on your record for going to the hole or anything. the guards are not your friends and they can be your worst enemies so dont fucking smoke cigs or break any facility rules they will fuck you up and make you do more time.

best of luck but if you have $20k right now in crypto, by the time you get out of prison in a few years it will literally be worth a few million.
you'll make it but only if you prepare for it.

ive helped you enough anon, 20yo is too young to an hero. you can make it thru this shit and will be a better man for it. trust me on this.

>> No.23767809

>>23767761
No I don't have $20K, I said the bank seized it. Thanks for the advice anyways. Sounds like it was a wild life, enjoy it now.

>> No.23767885

>>23767809
dude even if you were able to buy 100k RSR right now just 5 years from now you'd be in millionaire territory.

the crypto game is the best game around and the easiest. and hodling locked up in a jail cell is a great way to ensure that even if you do get weak hands you still cant sell.
consider that, every situation has positive up sides to it.
you may have fucked up pretty bad but its not like youre gonna be doing a life sentence.