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Thread: Liar Loans a Felony in Texas

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    Liar Loans a Felony in Texas

    Scammers in Texas should beware:
    32.32. FALSE STATEMENT TO OBTAIN PROPERTY OR
    CREDIT. (a) For purposes of this section, "credit" includes:
    (1) a loan of money;
    (2) furnishing property or service on credit;
    (3) extending the due date of an obligation;
    (4) comaking, endorsing, or guaranteeing a note or
    other instrument for obtaining credit;
    (5) a line or letter of credit; and
    (6) a credit card, as defined in Section 32.31 (Credit
    Card or Debit Card Abuse).
    (b) A person commits an offense if he intentionally or
    knowingly makes a materially false or misleading written statement
    to obtain property or credit for himself or another.
    (c) An offense under this section is:
    (1) a Class C misdemeanor if the value of the property
    or the amount of credit is less than $50;
    (2) a Class B misdemeanor if the value of the property
    or the amount of credit is $50 or more but less than $500;
    (3) a Class A misdemeanor if the value of the property
    or the amount of credit is $500 or more but less than $1,500;
    (4) a state jail felony if the value of the property or
    the amount of credit is $1,500 or more but less than $20,000;
    (5) a felony of the third degree if the value of the
    property or the amount of credit is $20,000 or more but less than
    $100,000;
    (6) a felony of the second degree if the value of the
    property or the amount of credit is $100,000 or more but less than
    $200,000; or
    (7) a felony of the first degree if the value of the
    property or the amount of credit is $200,000 or more.

    Acts 1973, 63rd Leg., p. 883, ch. 399, 1, eff. Jan. 1, 1974.
    Amended by Acts 1993, 73rd Leg., ch. 900, 1.01, eff. Sept. 1,
    1994; Acts 1995, 74th Leg., ch. 76, 14.50, eff. Sept. 1, 1995;
    Acts 2001, 77th Leg., ch. 1245, 3, eff. Sept. 1, 2001.


    Section: Previous 32.02 32.03 32.21 32.22 32.23 32.24 32.31 32.32 32.33 32.34 32.35 32.41 32.42 32.43 32.44 Next
    Last modified: August 11, 2007
    Felony Penalty
    Capital Death or life in prison without parole
    First-degree 5 to 99 years in a state prison and/or a fine of not more than $10,000
    Second-degree 2 to 20 years in a state prison and/or a fine of not more than $10,000
    Third-degree 2 to 10 years in a state prison and/or a fine of not more than $10,000
    State jail 180 days to 2 years in a state jail and/or a fine of not more than
    $10,000
    Misdemeanor Penalty
    Class A Not more than 1 year in a county jail and/or a fine of not more than
    $4,000
    Class B
    Not more than 180 days in a county jail and/or a fine of not more than
    $2,000
    Class C A fine of not more than $500
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    Re: Liar Loans a Felony in Texas

    I found a great blog about mortgage fraud here. One never knows when one of our most wanted scammers may end up on it!

    Soapboxmom

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    Re: Liar Loans a Felony in Texas

    The loan becomes a felony when the money changes hands and the victim can file criminal charges with the local police. I had a lovely chat with a detective in Texas just today. Anyone who is making a false statement on any loan papers better think twice. Just $200,000 or more for a loan with fraudulent papers is a first degree felony. Yikes!

    Good luck!

    Soapboxmom

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