Grand juries in Virginia and Maryland are weighing criminal indictments against New York Attorney General Letitia James and California Senator Adam Sc
Grand juries in Virginia and Maryland are weighing criminal indictments against New York Attorney General Letitia James and California Senator Adam Schiff over allegations they falsified property records to secure favorable loan terms, according to Department of Justice sources.
On Thursday, Attorney General Pam Bondi appointed Ed Martin as a Special Attorney to lead the prosecution of James and Schiff for potential mortgage fraud, bank fraud and wire fraud, which carry jail terms of up to 30 years.
James is alleged to have falsified information on mortgage applications, including listing her father as her husband to secure favorable loans, and misrepresenting her residency status on a Norfolk, Virginia, property.
Schiff is accused of mortgage fraud, mail fraud, bank fraud and false statements to financial institutions for certifying a Maryland property as his primary residence while also claiming a California condominium as his main home for tax and mortgage purposes.
The alleged occupancy misrepresentation on federally backed loans from 2003 to 2019 allowed him to benefit from lower interest rates and tax breaks meant for primary residences.
Subpoenas have been issued, and witnesses have begun testifying in grand jury proceedings for Schiff in Maryland, and James in Virginia.
The investigation into James’ real estate holdings began in April when Federal Housing Finance Agency Director Bill Pulte sent a criminal referral to the Justice Department.
Pulte alleged James may have “falsified bank documents and property records to acquire government backed assistance and loans and more favorable loan terms” by claiming a Norfolk, Virginia, home she bought in 2023 would be her “principal residence” while acting as New York AG, and that a block of units she owned in Brooklyn was her second residence.
On Thursday, Attorney General Pam Bondi appointed Ed Martin as a Special Attorney to lead the prosecution of James and Schiff for potential mortgage fraud, bank fraud and wire fraud, which carry jail terms of up to 30 years.
James is alleged to have falsified information on mortgage applications, including listing her father as her husband to secure favorable loans, and misrepresenting her residency status on a Norfolk, Virginia, property.
Schiff is accused of mortgage fraud, mail fraud, bank fraud and false statements to financial institutions for certifying a Maryland property as his primary residence while also claiming a California condominium as his main home for tax and mortgage purposes.
The alleged occupancy misrepresentation on federally backed loans from 2003 to 2019 allowed him to benefit from lower interest rates and tax breaks meant for primary residences.
Subpoenas have been issued, and witnesses have begun testifying in grand jury proceedings for Schiff in Maryland, and James in Virginia.
The investigation into James’ real estate holdings began in April when Federal Housing Finance Agency Director Bill Pulte sent a criminal referral to the Justice Department.
Pulte alleged James may have “falsified bank documents and property records to acquire government backed assistance and loans and more favorable loan terms” by claiming a Norfolk, Virginia, home she bought in 2023 would be her “principal residence” while acting as New York AG, and that a block of units she owned in Brooklyn was her second residence.
70-79, M
