Does this sound legal or legit...

I reside in California and I'm told by a person that I can get a large loan, in my name, for my company as corporate credit, if I fly to Texas, become a resident by registrating with the DMV, and going to a bank that this person has a relationship with, and they will sign over a loan for a few hundred thousand dollars that day.

Is this legal without actually residing in Texas? Can you be a dual resident? Does this mean I have to pay taxes there as well? What other ramifications are there?

Hello tim:

Banks loan money based on your ability to pay it back - not on your address. If you're creditworthy, the bank doesn't care where you live. Besides, how are you going to establish Texas residency without a residence? They want you get a Texas drivers license?? Then when you go back to California, you're going to have to change it back, or you'll be breaking a California law.

Nope, sounds fishy to me. AND, I know fishy.

excon

How do you get a Texas drivers license ? You have to provide proof of residence, elecrtric bill or rental agreement, a

Sorry most certainly a fraud, also where is your corporation based out of, will have appoint a registered agent to do business in Texas ? Or are you going to move your corporation home to Texas.

** now there is nothing wrong with having your corporation in a different state, many people use Nevada, my corporation for example is in TN but I live in GA.