Sen. Adam Schiff of California may be facing a federal criminal investigation tied to serious allegations of mortgage fraud, according to information reportedly confirmed by a Trump administration source and cited by Fox News. The investigation is said to be under the direction of the U.S. Attorney’s Office in Maryland, which may be pursuing potential charges involving falsified property and financial records.
After Laura Ingraham of Fox News allegedly revealed the update during a Tuesday night program, the matter attracted even more attention. Schiff’s actions seem to have raised concerns for over ten years. According to reports, the Federal Housing Finance Agency (FHFA) has referred Schiff to the Department of Justice for criminal prosecution on several counts of falsifying documents to obtain favorable loan terms.
Back in 2011, Schiff signed a sworn statement declaring a Maryland residence as his main home. At the same time, he also owned a property in Burbank, California, which continued to be marked as a primary residence through 2023. Fox News noted that his team chose not to address the allegations.
Additional information shared by FHFA Director William Pulte in a letter dated May and sent to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche suggests that Schiff may have altered housing and mortgage records between 2003 and 2019, potentially to secure more advantageous loan terms.
The FHFA, which oversees Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, reportedly viewed such actions as posing risks to the integrity of the U.S. mortgage system. Additional findings cited by Fox suggest that Schiff may have exhibited a repeated pattern of misrepresentation regarding the occupancy status of five Fannie Mae-backed loans.
In one prominent instance, Schiff and his spouse paid $870,000 for a house in Maryland in 2003. Even while Schiff was representing California in Congress, a $610,000 mortgage was purportedly arranged under terms appropriate for a principal residence, and documents confirming that status were filed in the years that followed.
Reports indicate that the property wasn’t designated as a secondary residence until 2020. Meanwhile, Schiff’s California condo was receiving a homeowner’s tax exemption based on claims that it was his primary residence, resulting in a $7,000 reduction in property taxes. Nonetheless, throughout his 2023 Senate campaign, a representative for Schiff reportedly continued referring to the Burbank property as his main residence.
Federal housing officials appear to view the cumulative evidence as potentially constituting violations of numerous federal criminal laws, including those concerning wire fraud, mail fraud, and providing false statements to financial institutions. The pattern of alleged document falsification is being regarded as both deliberate and financially beneficial.
At the center of the case is the suggestion that Schiff may have knowingly obtained loan terms designated for primary residences while benefiting from the lower costs typically associated with such classifications, raising legal and ethical questions for the longtime Democrat lawmaker now seeking a Senate seat.
The post Schiff Learns His Fate After Criminal Referral – ‘We Take Very Seriously’ appeared first on Boveed.
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