Friday, March 11, 2011

Silly Citizen, Fraud is for Banks

A California couple, who defrauded 8 banks out of $130 million, were arrested yesterday and charged with nine counts of fraud.

They are accused of borrowing by exaggerating the company's in-transit inventory and doctoring invoices to support the exaggerated numbers. The Fus are believed to have filed false reports from June 2008 to March 2009 and the fraud continue till August that year, according to Bloomberg.

The couple were indicted on nine counts of bank fraud by a federal grand jury and each charge carries a maximum 30-year sentence in federal prison.

When banks defraud the American public, they get billions in bailout dollars. When Americans try to defraud the banks, they get arrested and sent to prison.

Remember: you are a serf, and the bank is your master.

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