Legal Question in Real Estate Law in California

Fictitious Business Name2

Hi, my father is developing a commercial building, and he has asked me to open a bank account with a dba and so for Tenant Improvement work, which costs about $250k, he wants submit a fake bid by me, and give it to the lending bank, so then the back will release the funds, but then he will give the work to another person that has given my dad a quote for $150 and my dad wants to keep the extra $100k for himself.

What are the repercussions? Should i do this to help my father out? Should i ask to keep some money for myself? Will i end up paying tax on this?


Asked on 11/09/08, 4:45 pm

1 Answer from Attorneys
Robert Mccoy Law Office Of Robert McCoy

Re: Fictitious Business Name2

What you are proposing to do is called fraud. If the bank finds out, it could sue you. If a fraud judgment is entered against you, you will not be able to discharge the debt in bankruptcy.

Read more
Answered on 11/09/08, 8:48 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in California