Senator Adam Schiff (D-CA) has quietly set up a legal defense fund as the Justice Department ramps up its investigation into allegations of mortgage fraud. The move comes after Attorney General Pam Bondi appointed Ed Martin as special counsel to probe claims that Schiff and New York Attorney General Letitia James misrepresented property values to secure favorable mortgage rates.
According to federal filings, Schiff allegedly listed a Maryland property he owns as his primary residence while refinancing a federally backed loan on February 6, 2009 — despite serving as a California congressman at the time. Federal housing officials claim the paperwork was not corrected to reflect the home as a secondary residence until October 13, 2020, more than a decade later.
Federal Investigators Zero In
The allegations have triggered inquiries by grand juries in both Virginia and Maryland, weighing potential indictments against Schiff and James. Trump, reacting on Truth Social, accused Schiff of engaging in a “sustained pattern of mortgage fraud,” blasting the senator for “ripping off America” while benefiting from a cheaper mortgage.
The Financial Crimes Division of Fannie Mae reportedly concluded that Schiff’s paperwork reflected a long-standing pattern of possible fraud. Schiff, however, has denied wrongdoing, accusing Trump and his allies of “weaponizing” the justice system for political gain.
Schiff’s Defense Strategy
On Tuesday, Schiff’s office announced the formation of the “Senator Schiff Legal Defense Fund,” filed with the IRS last week. A spokeswoman for the senator framed the move as necessary to counter what she called “baseless smears” from Trump and his supporters:
“This fund will ensure he can fight back against these attacks while continuing to do his job.”
Schiff has remained tight-lipped when pressed on the investigation, instead pointing to his record of challenging Trump during the Russia probe.
Historical Context: From Russia Probe to Mortgage Fraud Claims
Schiff became a household name during his role as ranking member of the House Intelligence Committee, where he repeatedly claimed he had seen definitive evidence of “collusion” between Trump’s 2016 campaign and Russia — a claim later debunked by multiple investigations.
Trump highlighted this history in a recent speech at the Kennedy Center, saying:
“Russia, Russia, Russia. Totally phony, created by Adam Schiff, Shifty Schiff, and Hillary Clinton and the whole group of them.”
Trump urged Bondi’s Justice Department to pursue the mortgage fraud allegations aggressively, arguing Schiff had misled the nation before and could not be trusted.
What Comes Next
If grand juries issue indictments, the case could mark a historic legal showdown involving one of Trump’s most outspoken critics. For Schiff, the legal defense fund signals preparation for a protracted battle — one that could intertwine his political future with his legal survival.
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Sources and further reading:
https://www.foxnews.com/politics/adam-schiff-forms-legal-defense-fund-amid-doj-mortgage-fraud-probe
https://www.politico.com/news/2025/08/20/adam-schiff-mortgage-fraud-investigation-00127890
https://nypost.com/2025/08/20/politics/adam-schiff-under-investigation-for-mortgage-fraud/
https://www.washingtonexaminer.com/news/justice/adam-schiff-mortgage-fraud-legal-defense-fund
https://www.theblaze.com/news/schiff-mortgage-fraud-investigation-defense-fund
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