Hypothetical "Loan Fraud" Scenario

Well you first asked for a loan of 10 million against an old vehicle that cannot possibly be worth for collateral, big red flag. Fraud would have applied if you had documentation that the vehicle was worth it knowing it was false

Things are worth what people are willing to pay. Unless you say “ I’m selling a brand new ferrrari” when it’s actually the best up ford, I don’t see how it’s even attempted fraud.

At its most basic definition, fraud is intentional deception with the goal of obtaining something of value.

So, if the bank had taken your word and never checked things out themselves, it could be fraud.

You didn’t falsify shite in your scenario. The bank assumed a loan value for what you were offering.

What if one other guy also offers you
$10M loan against the truck? Is the market $3.50 as you say or now $10M?

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Fraud would have applied if you had documentation that the vehicle was worth it knowing it was false

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It was his dad's old truck. It has sentimental value. 10 mil.

Maybe he boned his wife in the bed of the truck and got her pregnant with their first kid.

There's no fraud here, value is subjective. I'm at a loss at how this answer isn't obvious to anyone.

On vehicles it wouldn’t matter if it was his dads or he screw a hundred of the world’s beautiful women in there. Until the vehicle became a very rare item it would carry a value mostly the same as all of the similar ones depending on condition, it would not be subjective. Now it you or I wanted that truck and for some reason we would bid that truck up that would be on the buyer not seller ( no fraud). But if the seller managed to get a piece of paper from a reputable source saying it’s actual value knowing it is not possible for that and was given a loan from a bank for that 10 million after the loan officer was obviously fired and matter looked into it would show a conspiracy to commit fraud between borrower and issuer of the said letter of value. This is nothing in comparison to what is going on with NY AG and their undertakings trying to drag Trump throughout the news cycle daily. Outside maybe some uncrossed T’s or dotted I’s the loan for Trump is legal, valid and appropriate in normal circumstances but they are making up crap to get to him

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if you had documentation that the vehicle was worth it knowing it was false

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In this scenario, let's assume the OP filled out a loan application and put the worth of the vehicle at $10M.

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you thought it was worth $10MM, and the banker agreed with you and loaned you that amount of money, that's not fraud.

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yeah - my common sense position is that as long as there is an obvious 'look for yourself' admonition documented in the paperwork, then it cannot be fraud.

I could never be a 'lawyer' - cannot abide deliberate hypocrisy