The STRAWMAN …. and the BANKERS….
The Fraud occurs when a bank advertises that they make “loans”.
What they call “loans” should more properly be called “exchanges”.
Because actually TWO LOANS occurred in that transaction at the bank.
THEY loaned you some money (LOAN #1) that paid for a house, for example, in return for your Promissory Note to repay that amount.
However, YOU also loaned them some money (LOAN #2) when they DEPOSITED the amount of your Promissory Note into their General Ledger by:
1) debiting that amount as an ASSET into an “Accounts Receivable” account, and then;
2) crediting that same amount as a LIABILITY into an Accounts Payable account, described as “the borrower’s deposit account”.
They are required to ledger both of these two offsetting entries in order to comply with the Generally Accepted Accounting Principles (GAAP) and also relevant banking regulations that require them to reveal the source of the funds for the Promissory Note, and also to keep the general ledger in balance in a double-entry bookkeeping system.
The fraudulent concealment, fraudulent conversion and “fraud in the factum” (fraud in the execution) occurred when they did not disclose that:
1) they opened a “borrower’s deposit account” in your name
2) they signed your name on that account
3) they should give you a DEPOSIT SLIP for that DEPOSIT
4) they removed funds from that account without your consent
5) they bundled and monetized your Promissory Note and separated it from the mortgage loan, and how that affected this transaction.
“What is here disclosed is the biggest fraud on Australia and Australians, ever!!! Thousands upon thousands of property mortgages given to secure bank loans and trading arrangements for perfectly viable home and business owners, have been secretly sold in a virtual ‘black market’ to reap lots of immediate cash paid direct to the lenders with no notice to you. You own it, they sell it, they keep all the money.
Amounts greatly in excess of what is owed. A “quick buck.” Then, as the ‘banks’ have sold all of their rights over the mortgages, they move fast to illegally get you to keep paying. Their illegal tactics involve selling up everything you might own.
How Fraud against property and business owners is making big bucks for banks”.
Its pretty clear why they duck dive and weave every time a Banking Royal Commission is mentioned. Appears to be more White Collar crimes!