Wow, what a genius. Lending money from banks and not paying it back. I think nobody ever had this wicked master mind plan.
What's his point again? That stealing is OK when you want to promote your crazy, utopian socialist world view?
Failing to repay a loan is not theft. Generally the loan contract will provide for what will happen if the money is repaid and what will happen if the money is not repaid, and it is entirely up to the borrower to determine which happens.
Not theft, but entering into a loan contract with no intention of paying it back may be fraud.
However, assuming he didn't reveal his plan to avoid repayment, it is fraud.
He may well have committed fraud in what he told the banks though.