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How might lenders use safes tax information to verify portio

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How might lenders use safes tax information to verify portions of the financial statements?

In June 2007 the creator of the Backstreet Boys and 'N Sync was indicted by a federal grand jury on charges that he defrauded a bank out of $20 million. He was accused of fraudulently securing millions in bank loans with documents from a fake accounting firm.
What constitutes loan fraud? A loan fraud is a scheme or artifice or making false statements orally or in writing in order to receive a loan; Loan frauds may sometimes be committed with the assistance of outside agents such as appraisers who inflate appraisals that support loans or, as in the case just cited, a fake or disreputable accounting firm. 

Reference no: EM131132059

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