What is the penalty for falsifying a loan ?

If someone had falsified pay stubs on a loan application, and in that same application claimed that employment had begun in the previous tax year, and wanted to come clean, what kind of penalties would be involved?

Obviously there would be discrepancies between taxes and income etc, but the question is,
What is the penalty for falsifying pay stubs on a personal loan application?

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1 Comment for “What is the penalty for falsifying a loan ?”

  1. Bart M

    Depending upon the amount of credit extended, the fraud could rise to that of felony.

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