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Giving A False Networth To Take A Loan. Is It Right? - Business - Nairaland

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Giving A False Networth To Take A Loan. Is It Right? by Obrigardo: 3:07pm On Jun 06, 2021
Someone said it's perfectly ok to deflate or inflate my assets and to lie about my finances so I can get a bank loan. He says everyone does it.
Is it a right thing to do? Should I go ahead?

Please I need your help
Re: Giving A False Networth To Take A Loan. Is It Right? by onyanza: 3:49pm On Jun 06, 2021
You can over indebt yourself by doing so.
Re: Giving A False Networth To Take A Loan. Is It Right? by espn(m): 4:04pm On Jun 06, 2021
Obrigardo:
Someone said it's perfectly ok to deflate or inflate my assets and to lie about my finances so I can get a bank loan. He says everyone does it.
Is it a right thing to do? Should I go ahead?

Please I need your help
I don't think it is possible...They would run a check on your financial strength before giving you any loan.
Re: Giving A False Networth To Take A Loan. Is It Right? by Obrigardo: 7:15pm On Jun 06, 2021
onyanza:
You can over indebt yourself by doing so.

So it's wrong right?
Re: Giving A False Networth To Take A Loan. Is It Right? by Obrigardo: 7:16pm On Jun 06, 2021
espn:
I don't think it is possible...They would run a check on your financial strength before giving you any loan.
The guy who said it's ok, mentioned that Jeff bezos does it and I can go ahead..
Re: Giving A False Networth To Take A Loan. Is It Right? by samsard(m): 9:53am On Jun 07, 2021
Obrigardo:

The guy who said it's ok, mentioned that Jeff bezos does it and I can go ahead..
That's a ridiculous lie. Jeff Bezos owns publicly traded shares, which means that you can estimate his net worth by the value of units of shares he owns.
E.g If Bezos owns 1 billion shares at $200 each, we know he's worth $200 billion. If the price drops by 10%, we know Bezos is worth $180 billion etc.
Re: Giving A False Networth To Take A Loan. Is It Right? by SavageResponse(m): 10:25am On Jun 07, 2021
Obrigardo:
Someone said it's perfectly ok to deflate or inflate my assets and to lie about my finances so I can get a bank loan. He says everyone does it.
Is it a right thing to do? Should I go ahead?

Please I need your help

Ignore the idiot.

Providing false information in order to access a loan is considered fraud in case you don't know!
Re: Giving A False Networth To Take A Loan. Is It Right? by onyanza: 11:59pm On Jun 07, 2021
Obrigardo:


So it's wrong right?

It is wrong.

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