Even if he actually overvalued it, it was the biggest non-crime ever! One, it was the bank's job to do due diligence and verify the value. Two, it was collateral for a loan that was paid back in full with interest. The entire case was a sham
It’s inevitable that parties will value a property differently. The value that matters is the one the bank is willing to loan against. And that value is usually a fraction of what they independently determine the market rate to be. You can tell the crime is BS because they would never charge a bank manager for miscalculating a property value resulting in a higher rate to the bank.
Even if he actually overvalued it, it was the biggest non-crime ever! One, it was the bank's job to do due diligence and verify the value. Two, it was collateral for a loan that was paid back in full with interest. The entire case was a sham
AND Deutsch Bank said they would give him another loan.... This was a victimless "crime"....
It’s inevitable that parties will value a property differently. The value that matters is the one the bank is willing to loan against. And that value is usually a fraction of what they independently determine the market rate to be. You can tell the crime is BS because they would never charge a bank manager for miscalculating a property value resulting in a higher rate to the bank.