Laidbackman
All Star
People need to learn from Wesley Snipes. Even if it's legally, or even if it was legal in this case, they still coming for you.
The biggest black podcast in Atlanta aka Wakanda is promoting scamming I mean financial advice
- Thread starter BrothaZay
- Start date
What exactly did he do
Lie on a loan application on a Federal Bank Brehs.
Don't worry about it brehs after that whole PPP fiasco Feds increased the statute of limitations for what they consider wirefraud to 10 years to catch up to you. So go ahead you won't have to worry about it for a while.
*Birdman hand rub*
Pleighboi gotta get dis mon-ney!
Laidbackman
All Star
I can't remember exactly, but I think it had something to do with him not filing tax returns, which was perfectly legal in his case. He was doing what the big boys do, since he could afford to. But they came down on him because he was Black. They probably had "Jungle Fever" on their minds, or "White Men Can't Jump".
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That $100K loan going to 25% will have somebody ass out real quickWhen it turns in to a personal loan, the interest is high as fukk. That clown tried to down play that part. Interest goes from 3% to 25%
I hate dumb nikkaz like this, acting like they kicking knowledge, setting up folk for failure
I hope folks ain't really doing this.
NaijaProdigy Redux
Veteran
He casually glossed over the fact that when it converts to a personal loan you now need an investment returning well over 20 percent for this scam to work 
richaveli83
Veteran
I talked to a few blacc ppl who think this will be easy. Even claiming they’ll be able to double the 50k within 90 days before the bank catches onHe casually glossed over the fact that when it converts to a personal loan you now need an investment returning well over 20 percent for this scam to work
Illuminatos
#OVOXO
And peep them EYL dudes behind him hyping that nonsense up.
So Black folks in relationship YT and finance YT are all scamming
Nah, but Lil Mook Mook or Moneyman Jimbo with the big bands of cash he puts by his ear trying to tell you how to repair your credit or how to get an interest free loan are.
There are actual black folks who have the credentials, that give real advice. The wanna be rappers with no kind of credentials behind their name aren't them.
ignorethis
RIP Fresh RIP Doe RIP Phat
Yea but he’s really talking about this for people that know they have a way to flip the money fast and get a return, then pay off the loan.When it turns in to a personal loan, the interest is high as fukk. That clown tried to down play that part. Interest goes from 3% to 25%
I hate dumb nikkaz like this, acting like they kicking knowledge, setting up folk for failure
I’ve taken title loans on my cars before, terrible interest and terms, but I just needed the money as startup capital for a flip. Was able to make the play, then paid off the title loan while still having more money to spare than the initial loan.
I’ve done that multiple times, but I won’t lie, it went sour one time and I ended up losing one of my cars.
End of the day banks don’t care about false information on applications if they get their money back. It’s only when you default and they take a big L do the police get involved.
Hell, dudes finesse the banks out of 20k routinely and usually all that happens is you get red flagged in Chex Systems (so you can’t open an account with any of the big banks for 7 years), maybe end up with a judgement against you in civil court.
Banks have their own private investigators for that but it’s so many people doing fraud now and guys hitting for 100k, 200k, 500k, they don’t have enough manpower to go after 20-40k. But with the boost to the statute of limitations they have more time to eventually decide if they want to investigate and pursue you in criminal court.
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DatBoiHawk
HAWK
That ain’t really fraud though I thought he was gon be on some big boy shyt stealing peoples social security and taking out loans. You still gonna have to pay that 100k back with his method and what’s going to happen
when @ireallymeanit buys AMC at all time high and loses all the money
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Sir Richard Spirit
Superstar
If you get approved for $100,000 car loan @3% interest I wouldn’t think you need to scam anyone.
WetinBeDat
Pro
Getting the money is one thing but for him to say to throw 10k on courses, ETH or BTC and "see what happens" is wild lol
International Playa
Playa with a Passport
Very few people are disciplined enough to execute that successfully. Most people will end up buying designer clothes, jewellery, vacations & on hoes.
Then they stuck with a 100k loan on a 20+ % interest rate
