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Today , 12:15 AM

#40326

d2_e4

certifiable moron

Join Date: Sep 2014 Posts: 12,107

Also: how much does financial advisor bahbahmickey know about finance?

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Today , 01:06 AM

#40327

jjjou812

Pooh-Bah

Join Date: Sep 2009 Posts: 5,642

Or how many people are worried about a Russian pee tape?

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Today , 01:12 AM

#40328

Montrealcorp

Carpal \'Tunnel

Join Date: May 2007 Posts: 13,357

Quote:

Originally Posted by bahbahmickey

Of the last 50 people in the US who, during the process of getting a loan, told a bank that their property was worth more than what the bank valued an asset at how many of them stood up for a jury?

Hint: the answer is zero of them

https://www.investopedia.com/terms/a/appraisalfraud.asp

Quote:

Appraisal fraud is a form of mortgage fraud, whereby the value of a home is deliberately appraised at an inflated amount, well above its fair market value (FMV). Appraisal fraud can occur when an appraiser is in on the scam, and dishonestly overstates the value of the property.

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KEY TAKEAWAYS
- Appraisal fraud is the intentional inflation of the appraised value of a home.
- An appraisal is meant to be an assessment of a home to determine its fair market value (FMV).
- Appraisal fraud is generally used to either get the seller a better market price or help a buyer get financing or preferable refinancing.

https://www.thebalancemoney.com/what...-fraud-5225882

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Definition and Example of Appraisal Fraud

Appraisal fraud involves intentionally misstating the value of a home. This often happens when licensed appraisers purposely understate or overinflate a home’s worth.

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Note
Appraisal fraud accounts for around one in 10 cases of mortgage fraud.

https://therealdeal.com/national/202...-fraud-scheme/

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Appraiser pleads guilty in $1.3B fraud scheme
Walter Roberts II of North Carolina faces five-year maximum sentence

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Owners with conservation easements can claim an income tax deduction.

From 2008 to 2019, Roberts fraudulently inflated the value of at least 18 different easements by violating industry norms and making false statements. He also manipulated or used manipulated data to hit a target appraisal value communication by unnamed co-conspirators to achieve a certain tax deduction.

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This kind of scheme isn’t unprecedented, though. A couple of years ago, two brothers working at an Atlanta accounting firm pleaded guilty to federal tax fraud conspiracy charges for running an operation allegedly involving green space conservation deductions that cheated the IRS out of $250 million.

https://www.justice.gov/opa/pr/appra...ed-year-prison

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Appraiser in Billion-Dollar Fraudulent Tax Shelter Sentenced to A Year in Prison

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Defendant Also Ordered to Pay More Than $129 Million in Restitution

Got any more bs and lies on the subject baham ?
How much the republicans pays u to spew so much ?
Don’t u have any shredded of dignity ?

Last edited by Montrealcorp; Today at 01:20 AM.

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Today , 01:53 AM

#40329

rickroll

oddly catty

Join Date: Aug 2011 Posts: 22,590

Quote:

Originally Posted by d2_e4

Also: how much does financial advisor bahbahmickey know about finance?

I'm not making any sort of judgement on his financial fluency

but i think you deeply misunderstand what it is that financial advisors in America do

they don't financially advise, they are sales people who are acquiring clients and then managing said clients

they almost never make a single financial decision on behalf of their clients, that's left up to another much smaller and centralized team - they instead spent much of their office hours dining and golfing and going to the children's birthday parties of their clients

a good friend of mine used to be a financial advisor, was recently hanging out with her and she showed me all her designer shoes and dresses that she had begun to sell because she no longer needed these to go to high networth events to manage existing clients and find new ones

she has a PhD in economics, all she ever did for Merril Lynch and later (i believe it was) Bank of America was wear cocktail dresses and meet with clients