Virginia Code § 18.2-186 criminalizes making false written statements about financial condition to obtain property, credit, or loans. It outlines penalties for both making false statements and knowingly using such false information to secure benefits, with penalties varying based on the value obtained. The law also specifies the proper venue for trial of such offenses.
A false statement involves knowingly providing a materially false written claim about financial condition or ability to pay, intended to be relied upon for obtaining property, credit, or loans.
Making false statements can lead to a Class 1 misdemeanor. If the false statement results in obtaining $1,000 or more, it can be charged as grand larceny; otherwise, it may be petit larceny.
Yes, the law applies to individuals acting on their own or on behalf of firms or corporations when making false statements to obtain property or credit.
Cases can be tried in the county or city where any act in furtherance of the offense was performed.