transferring large amount of money that isn't really mine
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BTW, this is probably a good place to remind people that the biggest problem most people make when they have committed what I will call a business or tax mistake is the false statements they make about the facts to other persons such as law enforcement, tax collectors, bank security people, etc. On the sheer facts, the case above is a winner. But when the derfwad client starts explaining things in a reasonable way, he will surely destroy his defenses and probably commit a few felonies in the process.
Rule of thumb: Never speak with law enforcement persons about anything, ever, other than which way a fleeing felon ran. If they need the information, your attorney can give it to them.
Usually the most serious crime in the mix is lying about what happened.
Good advice.
My attorney has a large mounted fish on his office wall. One day, I decided to read the brass plaque on the fish....expecting it to say the species, weight, where caught, etc. But what it says is, "I wouldn't be here if I had kept my big mouth shut...". LOL
Why aren't you MORE concerned with the GIANT red flag of how the $90k got transferred/ deposited into your current account?
You DO know that legally you need to claim that $90k as income on your tax return and that you are legally required to pay taxes on that income. There is no such thing as "safe-keeping" money for a friend or family member. I totally get that you're trying to help your friend, but you have seriously put yourself in legal/financial jeopardy by "helping". Consult an attorney ASAP about how to get out of the jam you're in as quickly as possible.
He could always claim it was a loan from the friend---
But the fact that the friend is the one hiding assets is the real crime--and I mean that literally
I believe it IS a crime to do that trying to deceive about assets in a legal proceeding
So he is certainly an active accessory to that if the mortgage company finds out he could be in trouble
That isn't the situation here AT ALL. OP's friend has to short-sell his house because he "allegedly" doesn't have enough money to bring to the closing table (he signed a legally binding agreement to take out a mortgage & repay that mortgage)....but HE DOES REALLY HAVE THAT MONEY (it's "hiding" in OP's bank account). OP's friend thought he was above the law and for whatever reason didn't need to pay off his debts -that no one forced him to take on....nor did anyone promise him his home value would only go UP.
OP's friend should be afraid of the government. He is blatantly committing mortgage fraud and stiffing the bank with somewhere up to $90k that he is able, yet unwilling, to pay back.
You don't know the friend's (home owner's) situation to know how far that 90K would go to make the mortgage company whole
But the idea that he is trying to hide assets from the mortgage company is illegal--whether he thinks he got shafted or not--legally he is supposed to be honest about his assets...
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