A friend wants to open a business in my name. I don’t have to do any of the work, but he just uses my identity on all the paperwork. He and his millionaire friends all do this all the time, and now he wants me to become one of his puppets. Is this actually legal? What kinds of liabilities would I be opening myself up to by agreeing?
Throwaway account, I’m terrified for him to know
What some shell companies will do is be granted imaginary credit by another company (usually an insane amount) that pumps the credit score to the 800s fast, and then they have a credit pump to use for risky ventures.