FALSE STATEMENTS TO OBTAIN PROPERTY OR CREDIT

A person shall be guilty of a Class 1 misdemeanor if he:

• Makes, causes to be made, or conspires to make…
• any materially false statement in writing,
• knowing it to be false and
• intending it to be relied upon
• concerning the financial condition of himself…
• to obtain property or credit.

This statute is punishable by up to 12 months in jail and/or a $2,500 fine.

• If the person intends to defraud, he shall be guilty of grand larceny if the amount received is greater than $200.

VIRGINIA CODE: http://law.lis.virginia.gov/vacode/title18.2/chapter6/section18.2-186/

Any person who knows that a false statement has been made in writing concerning the financial condition or ability to pay of himself or of any person for whom he is acting, or any firm or corporation in which he is interested or for which he is acting and who, with intent to defraud, procures, upon the faith thereof, for his own benefit, or for the benefit of the person, firm or corporation in which he is interested or for which he is acting, any such delivery, payment, loan, credit, extension, discount making, acceptance, sale or endorsement, shall, if the value of the thing or the amount of the loan, credit or benefit obtained is $500 or more, be guilty of grand larceny or, if the value is less than $500, be guilty of petit larceny.

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