Instead of a slap on the wrist and an order to repay, should stealing from a minor's college trust fund have the same penalty as bank fraud?

[Kelley1]

Congress set the penalty ceiling for bank fraud at up to 30 years of imprisonment and a fine of up to $1,000,000, or both. The statute covers two categories of conduct: schemes to defraud a financial institution and schemes to obtain a financial institution’s assets through false pretenses. Attempting bank fraud carries the same penalties as a completed offense because the statute criminalizes anyone who “executes, or attempts to execute” the scheme.

[Hiker_011]

Yeah, there seems to be an imbalance there. There's extreme consequences for stealing from a financial institution, but it appears that it isn't even any legal charges, or fines for stealing from the beneficiary of a trust.

[Hiker_011]

Thanks for the award.

[beefcakebradybatson]

Yes, because it IS bank fraud AND child abuse.

[Kaneki05]

Of course, and my mother did something similar.
Now I hold less a grudge to that compared to other reasons I hate her but she still took what should've been my money without me being fully aware.
Honestly it wouldn't of been that much money for what she did so I couldn't be bothered going through the legal trouble, but if it was this kind ha I'd do it in a heartbeat. And she probably wouldn't of did what she did, then again she's dumb so probably would've.

[123459876]

Not necessarily who set up the college fund in the first place.

[Kelley1]

Typically, grandparents set up the trust funds and make parents trustees.

[RavVid]

Hmmh. I can see your point. Should be the same as bank fraud.

[Iron_Man]

I don’t think so not even close basically its like a personal loan that the parents is borrowing from The kids back. I think that they should feel guilty and they shouldn’t do it but not 30 years in jail. Or any Prison time.

[Kelley1]

Without a contract or agreement, it is theft. It is the same as taking money from a bank without permission and calling it a loan.

[Iron_Man]

It’s the parents do you want your parents to spend 30 years in prison?

[Kelley1]

My parents are paying for my college. I don't have a trust fund. If I did, they are not dumb enough to steal if it meant 30 years in prison.

[Iron_Man]

Yeah, but what I’m saying is if your parents took money out, you would forgive them. Because I know that you are a good girl and you mean well, but of course you would be disappointed.

[Kelley1]

Parents should never be trustees if the amount is significant. That is more than 3 months of their salary.

[Iron_Man]

OK Kelly you’re the boss around here you know what you’re talking about you have a lot of power

[Iron_Man]

I’m just kidding you’re not the boss around here you’re not in charge I am

[Kelley1]

I am not a boss, but I have opinions. Sometimes, it is me against the world, but a minority can be right.

[Iron_Man]

I can help you if you need help I don’t want you to go against everybody

[msc545]

Yeah, that's a great idea. When you end up with a child who has no parents because they're in prison.

[Kelley1]

There is CPS, Moreover foster homes are better than parents who steal from their children.

[DryGermanGuy]

Did you just watch a Sopranos episode? 🙂

[AgentG111]

Absolutely

[888theGreat]

sure

[Jeff51]

Yes.