Is it a crime to use a bank loan to pay into a 401k account?

Asked on March 5, 2015 under Criminal Law, Ohio


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

I highly doubt that it is a crime and that you could be arrested by the police and prosecuted by the District Attorney's office. Do you mean, though, for fraud?  Still a stretch unless it may violate the terms of the loan or you lied on the application to get the loan and so I would suggest that you read all the documentation VERY carefully.  Good luck.

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