Grand juries in Virginia and Maryland are considering possible indictments against Letitia James and Adam Schiff over allegations they falsified property records to obtain favorable loan terms, according to Justice Department sources.
Attorney General Pam Bondi has appointed Ed Martin as special attorney to oversee the investigation and any potential prosecutions involving alleged mortgage, bank, and wire fraud. Martin said he would follow the facts in the high-profile cases.
James is accused of misrepresenting information on mortgage documents, including her residency status on a Virginia property. Schiff is alleged to have improperly claimed a Maryland home as his primary residence while also listing a California condo as his main home, potentially qualifying for lower rates and tax benefits.
Both deny wrongdoing. Schiff’s attorney, former U.S. Attorney Preet Bharara, called the claims false and politically motivated.
Subpoenas have been issued and witnesses have begun testifying. The probe into James’ real estate dealings reportedly began after a referral from Federal Housing Finance Agency Director Bill Pulte to the Justice Department.
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