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nice1returns
I am the Holy Shit



Registered: 09/04/14
Posts: 2,303
Loc: miwuaki
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How To Committ Major Fraud 1
#23983740 - 01/05/17 11:55 AM (7 years, 25 days ago) |
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Essentially what happens is you have 2 bank accounts and you credit 1 account with say $1000.
Next you swap the money between the 2 accounts over a period of time. This now appears that you have a good income or profit. You can then get loans based on this fictional income.
This is exactly what is going on with the trade scams where the financial elite rob the public except they do it on a grander scale. They will setup companies and swap money between themselves and then float the stocks for them. People get involved on every level of it, even down to trader - as long as you bribe the right people its fine.
Then what happens to guys at the top of it all? We fucking bail them out lol to stop the whole system collapsing.
Meanwhile little jimmy is homeless, can't afford to eat and every one hates him cause hes poor. Can't blame the rich I mean we respect them don't we, let them steal, its prolly little jimmys fault for having a welfare check and can beans on xmas in '95.
Good work democracy, keep it up - oh wait, their is no democracy, just a financial oligarchy. ;-)
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Konyap

Registered: 06/30/07
Posts: 33,945
Loc: Planet Piss
Last seen: 4 years, 2 months
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lol good idea but they would probably bust you first
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Call-Me-Bob
Stranger


Registered: 06/06/16
Posts: 220
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So basically you get a loan from bank1, get a loan from bank2 pay bank1 get load from bank1 pay bank2 get load from bank 2 pay bank1 [..] ect
...A pyramid scheme
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Call Me Bob
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Crystal G



Registered: 06/05/07
Posts: 19,584
Loc: outer space
Last seen: 8 months, 6 days
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Re: How To Committ Major Fraud [Re: Call-Me-Bob]
#23983970 - 01/05/17 01:37 PM (7 years, 25 days ago) |
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Huh? If somebody is looking at your account they can tell whose bank account the other payment is coming in from. Every time I receive a direct deposit the person's name comes up.
You aren't the first person to think of stuff like this. Paying off a credit card with another credit card only works for so long.
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AmazonianGuru
Living Jungle Boy



Registered: 02/14/11
Posts: 1,571
Last seen: 1 year, 3 months
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Re: How To Committ Major Fraud [Re: Crystal G]
#23983977 - 01/05/17 01:41 PM (7 years, 25 days ago) |
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Quote:
Crystal G said: Huh? If somebody is looking at your account they can tell whose bank account the other payment is coming in from. Every time I receive a direct deposit the person's name comes up.
You aren't the first person to think of stuff like this. Paying off a credit card with another credit card only works for so long.
Yea but how could they actually do anything about paying off a credit card with a credit card? If you're still "paying" it on time and there's no missed payments they shouldn't really be worried about it...
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Call-Me-Bob
Stranger


Registered: 06/06/16
Posts: 220
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Quote:
UniversalShaman said: Yea but how could they actually do anything about paying off a credit card with a credit card? If you're still "paying" it on time and there's no missed payments they shouldn't really be worried about it...
That's a pyramid scheme, which is illegal...
They shouldn't be worried??? That's true if you can have you scheme run forever In the end one of the 2 banks are going to lose.
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Call Me Bob
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psi
TOAST N' JAM


Registered: 09/05/99
Posts: 31,456
Loc: 613
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Re: How To Committ Major Fraud [Re: Call-Me-Bob] 3
#23984658 - 01/05/17 05:41 PM (7 years, 25 days ago) |
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That would not be anything like a pyramid scheme.
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T-Rex




Registered: 04/05/08
Posts: 4,185
Loc: NY
Last seen: 9 days, 20 hours
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Re: How To Committ Major Fraud [Re: psi] 1
#23984703 - 01/05/17 05:58 PM (7 years, 25 days ago) |
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Someone does not understand the definition of a pyramid scheme.
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Call-Me-Bob
Stranger


Registered: 06/06/16
Posts: 220
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Re: How To Committ Major Fraud [Re: T-Rex]
#23984876 - 01/05/17 07:06 PM (7 years, 25 days ago) |
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Quote:
psi said: That would not be anything like a pyramid scheme.
We
Quote:
T-Rex said: Someone does not understand the definition of a pyramid scheme.
...Ponzi scheme then
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Call Me Bob
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blackdragon999
Mason


Registered: 07/17/06
Posts: 202
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Quote:
nice1returns said: Essentially what happens is you have 2 bank accounts and you credit 1 account with say $1000.
Next you swap the money between the 2 accounts over a period of time. This now appears that you have a good income or profit. You can then get loans based on this fictional income.
This is exactly what is going on with the trade scams where the financial elite rob the public except they do it on a grander scale. They will setup companies and swap money between themselves and then float the stocks for them. People get involved on every level of it, even down to trader - as long as you bribe the right people its fine.
Then what happens to guys at the top of it all? We fucking bail them out lol to stop the whole system collapsing.
Meanwhile little jimmy is homeless, can't afford to eat and every one hates him cause hes poor. Can't blame the rich I mean we respect them don't we, let them steal, its prolly little jimmys fault for having a welfare check and can beans on xmas in '95.
Good work democracy, keep it up - oh wait, their is no democracy, just a financial oligarchy. ;-)
If you are in a hurry to go to prison...structuring laws will help you get there even faster.
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psi
TOAST N' JAM


Registered: 09/05/99
Posts: 31,456
Loc: 613
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Re: How To Committ Major Fraud [Re: Call-Me-Bob]
#23984938 - 01/05/17 07:25 PM (7 years, 25 days ago) |
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Quote:
Call-Me-Bob said:
Quote:
psi said: That would not be anything like a pyramid scheme.
We
Quote:
T-Rex said: Someone does not understand the definition of a pyramid scheme.
...Ponzi scheme then
Pyramid schemes and Ponzi schemes are both pretty close to the same thing. Money from the "investors" on the bottom of the pyramid goes to the people on the levels above them, successive levels added to the bottom require exponentially larger numbers of people, and eventually there aren't enough new people to keep it going and the last people to buy in get nothing.
One person moving money back and forth between credit cards may or may not be committing fraud, but the whole pyramid element is not present.
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koods
Ribbit



Registered: 05/26/11
Posts: 106,066
Loc: Maryland/DC Burbs
Last seen: 4 hours, 23 minutes
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Re: How To Committ Major Fraud [Re: psi] 3
#23985213 - 01/05/17 09:18 PM (7 years, 25 days ago) |
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How do you commit major fraud? Appoint a Wall Street banker to head the SEC. Drain the swamp my ass.
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NotSheekle said βif I believed she was 16 I would become unattracted to herβ
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: How To Committ Major Fraud [Re: koods] 1
#23985229 - 01/05/17 09:24 PM (7 years, 25 days ago) |
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They did drain the swamp though... and then filled it back up with shit
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LogicaL Chaos
Ascension Energy & Alien UFOs




Registered: 05/12/07
Posts: 69,367
Loc: The Inexpressible...
Last seen: 2 minutes, 10 seconds
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Re: How To Committ Major Fraud [Re: koods]
#23985306 - 01/05/17 09:54 PM (7 years, 25 days ago) |
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Quote:
koods said: How do you commit major fraud? Appoint a Wall Street banker to head the SEC. Drain the swamp my ass.

I believe OP is talking about "floating loans", a pyramid scheme uses a bunch of people to feed a few people with money. A prime example is Hoover vacuums. Very Pyramid-scheme-equese.
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JvF
Fletcher Detcher


Registered: 02/13/14
Posts: 2,662
Loc: Chicago
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I dont know about everyone else but i was very disappointed after clicking this thread
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LogicaL Chaos
Ascension Energy & Alien UFOs




Registered: 05/12/07
Posts: 69,367
Loc: The Inexpressible...
Last seen: 2 minutes, 10 seconds
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Re: How To Committ Major Fraud [Re: JvF]
#23985325 - 01/05/17 10:00 PM (7 years, 25 days ago) |
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same.
I was hoping for an Ancharist Cookbook style DIY but instead did not get that
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ModestMouse
IM WALKIN ON SUNSHINE



Registered: 05/06/13
Posts: 19,227
Loc: Upstate
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Re: How To Committ Major Fraud [Re: Konyap]
#23985480 - 01/05/17 11:19 PM (7 years, 25 days ago) |
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Quote:
Konyap said: lol good idea but they would probably bust you first
Didnt read the thread
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