How to rob a bank!

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This guy in Canada has made this video where he basically robs several banks of $100000 by filing for bankruptcy. He takes hidden cameras in to the banks and documents the entire process and explains his liability and his reasoning behind it. He feels justified in his actions because of the banker bailouts and he explains how what he did is nothing different than what the mega corporations do when they hedge debt and receive tax payers money to invest with.

Here is the video, it is 40 mins long. Just click the video link at the bottom. :D

http://www.umotions.com/umetres/umi...issionID=9CFB62AA-5ADF-48C0-9D33-EF561E75E212
 
Soldato
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Surely you'd need to get he bank to give you $100,000 of their money before you can even think of declaring yourself bankrupt..... getting money out of the bank in the first place is more likely if you do actually rob it!!!
 
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Just watched the video, the guy is legit. Totals $100,000 in credit, declares bankruptcy and keeps everything (including his home).
 
Caporegime
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Surely you'd need to get he bank to give you $100,000 of their money before you can even think of declaring yourself bankrupt..... getting money out of the bank in the first place is more likely if you do actually rob it!!!

He does, over the course of 5 days or something he withdraws it all ... ive heard of this before.
 
Soldato
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Doesn't he absolutely wreck any credit rating he may have? It's all fun and jollies right now but what about a few years down the line when the money runs out and no one would even spit on him if he was on fire.
 
Soldato
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Doesn't he absolutely wreck any credit rating he may have? It's all fun and jollies right now but what about a few years down the line when the money runs out and no one would even spit on him if he was on fire.

he will not need loans, he has x100k in his pocket and he can get a job - in the UK anyway after a few years its as if you never went bancrupt
 
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Apparently after 9 months his record is clean and he says at age 31 (which i think is like 5 or 6 years time) he is free to do it all over again because his record will be completely clean.

He still has his business, which imo is a bit of a joke.

I am not sure about uk laws but i think they might be a bit different and you will probably lose your house. This guy realy thought it all through and managed to get a way with it. I don't think everyone would be so lucky.

I doubt banks would give me £100k anyway.
 

ntg

ntg

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Well, you need to have a good credit and lots of income for banks to extend that credit in the first place. So, in all likelihood if someone on average salary tried to do it they would probably get around only 1/3 of what he got as credit.

If he has his own business I presume his annual income would be about $50k minimum? So where is the big benefit on doing what he did? As far as I know in USA if you have poor credit you can't even get a bank account so I guess he has to keep the cash somewhere out of a bank - at home maybe.

If he happens to be in need for a loan or any credit within the next 5-6 years until his credit resets he will be in for a lot of trouble.

It just sounds daft, given the proportion of money you can abuse against your annual income, just not worth the trouble really. The only way I could see it as a potential idea is if you plan on leaving the country whereby you would max all credit, get as much cash in possible and then leave never to come back.
 
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Indeed it doesn't make sense to do this unless you think your business is failing or you are in fact leaving the country. The effects of becoming bankrupt only last 1 year then your slate is clean you just can't start up another business in your name again.
 
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