Fraud

Fraud usually occurs when we have the opportunity to be capable to commit it. President Obamas Financial Fraud Enforcement lying-in Force (FFETF) has recently started investigating financial nuisances (TNS). Before this bend went into effect one bad apple thought he could have got away with it but to his surprise he got caught. In the article the evidence represents that the Senior Vice President of force Commercial bank, Shawn L. Portman, act banking fraud by embezzling money from mortgages. due to the lack of investigation of financial documents, including bring applications gave Portman an opportunity to peculate money from the bank without any suspicion.
Mr. Portmann lined his pockets with millions of dollars in commissions and bonuses, at the expense of the families who now find themselves underwater on their mortgages. (TNS) Mr. Portmann committed fraud by lying on the loan applications and reservation false statements to the Department of Housing and Urban Development. This gave Mr. Portmann an opportunity to eliminate from the bank and have millions for himself without any distrust from others. He inform false information about the borrowers and their intentions on how they would finance their home.



This gave Portmann some other chance to lie on over 270 loan applications which resulted in $45 million in load proceeds (TNS). Portman was in a bad barrel because there where others committing the same crime and getting away with it before the FFETF started investigating.
Mr. Portman was charged with between 10 to 14 years in prison after appeal guilty to Conspiracy to make false statements in loan applications and to department of housing and Urban development and one wait of making a false statement in the loan applications. (TNS)
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