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UNLV2001

The Grand Jury says.........

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Not the big conspiracy the right wing media was huffing & ranting about, but an indictment nonetheless 

 

Grand Jury Indicts Former Democratic IT Staffer For Bank Fraud 

A federal grand jury has charged a former IT staffer for ex-Democratic National Committee chairperson Debbie Wasserman Schultz with bank fraud charges, the US Attorney's office announced Thursday.

Imran Awan was arrested July 24 before getting on a plane to Pakistan. The charges against the 37-year-old involve a home loan for rental properties owned by the former IT staffer, but his arrest has become the center of unfounded conspiracy theories in conservative and pro-Trump media that have tried to link Awan to the leaking of DNC emails during the presidential election.

In fact, there is no evidence suggesting that is true, and the charges facing the former DC staffer appear to be much less explosive than the stories spun by conservative commentators in past weeks.

On Thursday, the US Attorney's office announced the grand jury was levying bank fraud charges against Awan and his wife, Hina Alvi.

According to the grand jury indictment released Thursday, Awan and his wife are accused of taking out home equity loans on two Virginia homes, which are owned by the couple but used as rental properties.

Awan and Alvi allegedly falsely told the Congressional Federal Credit Union they were using the two properties as their primary and secondary homes, but had instead already signed lease agreements to rent the properties.

The Congressional Federal Credit Union does not offer home equity loans if the property is being rented out, the indictment states.

The couple allegedly lied in their applications for the loans of $165,000 and $120,000, before transferring the money to Pakistan in January. The indictment does not mention who received the money, or why the couple was transferring the money there.

The husband and wife are both facing charges of conspiracy to commit bank fraud, bank fraud, making false statements on a loan application, and engaging in unlawful monetary transactions.

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16 minutes ago, UNLV2001 said:

Not the big conspiracy the right wing media was huffing & ranting about, but an indictment nonetheless 

 

Grand Jury Indicts Former Democratic IT Staffer For Bank Fraud 

A federal grand jury has charged a former IT staffer for ex-Democratic National Committee chairperson Debbie Wasserman Schultz with bank fraud charges, the US Attorney's office announced Thursday.

Imran Awan was arrested July 24 before getting on a plane to Pakistan. The charges against the 37-year-old involve a home loan for rental properties owned by the former IT staffer, but his arrest has become the center of unfounded conspiracy theories in conservative and pro-Trump media that have tried to link Awan to the leaking of DNC emails during the presidential election.

In fact, there is no evidence suggesting that is true, and the charges facing the former DC staffer appear to be much less explosive than the stories spun by conservative commentators in past weeks.

On Thursday, the US Attorney's office announced the grand jury was levying bank fraud charges against Awan and his wife, Hina Alvi.

According to the grand jury indictment released Thursday, Awan and his wife are accused of taking out home equity loans on two Virginia homes, which are owned by the couple but used as rental properties.

Awan and Alvi allegedly falsely told the Congressional Federal Credit Union they were using the two properties as their primary and secondary homes, but had instead already signed lease agreements to rent the properties.

The Congressional Federal Credit Union does not offer home equity loans if the property is being rented out, the indictment states.

The couple allegedly lied in their applications for the loans of $165,000 and $120,000, before transferring the money to Pakistan in January. The indictment does not mention who received the money, or why the couple was transferring the money there.

The husband and wife are both facing charges of conspiracy to commit bank fraud, bank fraud, making false statements on a loan application, and engaging in unlawful monetary transactions.

Getting a loan on your rental property? Seriously is this going to be years in jail? My guess a fine. During the housing crash there were millions who lied on home loans about income and getting home loans on rental properties as primary homes.

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Just now, Rampage said:

Getting a loan on your rental property? Seriously is this going to be years in jail? My guess a fine. During the housing crash there were millions who lied on home loans about income and getting home loans on rental properties as home loans.

They could probably clean up here in the Vegas area where people were buying houses just based on equity 

own original house with 100K equity, pull it out and buy 2nd house for 200K..........wait 6 months, the 2nd house now worth 240K, pull out equity and go buy 3rd house for 280K.........wait some months, 3rd house now worth 340k, take out equity and go buy 4th house for $350K............wait some months and on and on.

There were working stiffs who owned 5 to 8 houses all based on buying over the boom years with equity ................then the crash and they all walked away 

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1 hour ago, UNLV2001 said:

They could probably clean up here in the Vegas area where people were buying houses just based on equity 

own original house with 100K equity, pull it out and buy 2nd house for 200K..........wait 6 months, the 2nd house now worth 240K, pull out equity and go buy 3rd house for 280K.........wait some months, 3rd house now worth 340k, take out equity and go buy 4th house for $350K............wait some months and on and on.

There were working stiffs who owned 5 to 8 houses all based on buying over the boom years with equity ................then the crash and they all walked away 

I know. I am shocked it is a crime. People here in California do a lot of it. Maybe it is and I am not aware of it.

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17 minutes ago, Rampage said:

I know. I am shocked it is a crime. People here in California do a lot of it. Maybe it is and I am not aware of it.

Technically it is fraud if you indicate on a loan app that the residence you are applying for is your primary residence when it is not. That's usually what is going on when people get in trouble over securing loans on rentals... they list them as their primary to get better rates/approved. In this case to secure the line of credit, I'd bet he listed the property as his primary residence.

And it is not against the law if there are no fraudulent statements. Obviously there was here since the Credit Union has a policy not to secure a loan on a rental and that is what happened.

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43 minutes ago, SharkTanked said:

Technically it is fraud if you indicate on a loan app that the residence you are applying for is your primary residence when it is not. That's usually what is going on when people get in trouble over securing loans on rentals... they list them as their primary to get better rates/approved. In this case to secure the line of credit, I'd bet he listed the property as his primary residence.

And it is not against the law if there are no fraudulent statements. Obviously there was here since the Credit Union has a policy not to secure a loan on a rental and that is what happened.

Back in the booms banks & mortgage underwriters were approaching people for loans telling them their equity was their ticket to more loans -Pretty much all you needed was a pulse and you could get approved.........and then the banks wrapped these mortgages all up in various bundles and sold them off to other banks, funds and investors as "income vehicles" ........the loans were parceled out so it got to the point home owners wouldn't know who actually OWNED the loan or how many different banks, funds & investors had a % of their mortgage loans.........remember the banks & mortgage companies couldn't even track down the original signed documents because the loans were all sliced and diced into various percentages and sold off to suckers leaving the banks as only the "loan servicers" 

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1 hour ago, SharkTanked said:

Technically it is fraud if you indicate on a loan app that the residence you are applying for is your primary residence when it is not. That's usually what is going on when people get in trouble over securing loans on rentals... they list them as their primary to get better rates/approved. In this case to secure the line of credit, I'd bet he listed the property as his primary residence.

And it is not against the law if there are no fraudulent statements. Obviously there was here since the Credit Union has a policy not to secure a loan on a rental and that is what happened.

Somebody told me of a way to get around this.  You just pretend that you are really going to live in the new house but instead you change your mind. It works!

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3 hours ago, UNLV2001 said:

Not the big conspiracy the right wing media was huffing & ranting about, but an indictment nonetheless 

 

Grand Jury Indicts Former Democratic IT Staffer For Bank Fraud 

A federal grand jury has charged a former IT staffer for ex-Democratic National Committee chairperson Debbie Wasserman Schultz with bank fraud charges, the US Attorney's office announced Thursday.

Imran Awan was arrested July 24 before getting on a plane to Pakistan. The charges against the 37-year-old involve a home loan for rental properties owned by the former IT staffer, but his arrest has become the center of unfounded conspiracy theories in conservative and pro-Trump media that have tried to link Awan to the leaking of DNC emails during the presidential election.

In fact, there is no evidence suggesting that is true, and the charges facing the former DC staffer appear to be much less explosive than the stories spun by conservative commentators in past weeks.

On Thursday, the US Attorney's office announced the grand jury was levying bank fraud charges against Awan and his wife, Hina Alvi.

According to the grand jury indictment released Thursday, Awan and his wife are accused of taking out home equity loans on two Virginia homes, which are owned by the couple but used as rental properties.

Awan and Alvi allegedly falsely told the Congressional Federal Credit Union they were using the two properties as their primary and secondary homes, but had instead already signed lease agreements to rent the properties.

The Congressional Federal Credit Union does not offer home equity loans if the property is being rented out, the indictment states.

The couple allegedly lied in their applications for the loans of $165,000 and $120,000, before transferring the money to Pakistan in January. The indictment does not mention who received the money, or why the couple was transferring the money there.

The husband and wife are both facing charges of conspiracy to commit bank fraud, bank fraud, making false statements on a loan application, and engaging in unlawful monetary transactions.

TONIGHT ON HANNITY...

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I wouldn't be so sure there isn't another shoe to drop. The Capital Police still have his confiscated computer that Wasserman-Schultz threated the Police captain to get back and they are still conducting their investigation. There are still plenty of questions to be asked about why so many members of that family worked on Capital Hill and also why they made the incomes they did when numerous staffers say they didn't really work there.  Plus the police confiscated numerous laptops and blackberry cells at one of his rental houses that all had congressional seals on them. Maybe it will be nothing but these are seperate investigations being held. 

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