The loans Duran swindled from banks were his way of regulating and denouncing this situation, he said. He started slowly. “I filled out a few credit applications with my real details. They denied me, but I just wanted to get a feel for what they were asking for.” From there, the former table-tennis coach began to weave an intricate web of accounts, payments and transfers. “I was learning constantly.” By the summer of 2007, he had discovered how to make the system work, applying for loans under the name of a false television production company. “Then, I managed to get a lot.” €492,000, to be exact.
Why did the banks reject Duran’s loan applications at first?
He provided his real information, based on which he wasn’t eligible for loans A few important details were missing from his applications The banks suspected he was trying to learn how the banking system operates The banks thought that he was cheating