Sen. Adam Schiff (D-CA) is the subject of a federal criminal investigation over allegations of mortgage fraud, following a formal referral to the Department of Justice by the U.S. Federal Housing Finance Agency (FHFA).
The investigation is being handled by the U.S. Attorney’s Office in Maryland.
The allegations involve claims that Schiff misrepresented the occupancy status of properties in both Maryland and California in order to secure more favorable loan terms.
The criminal referral and subsequent investigation were first reported by The Ingraham Angle on Fox News.
Schiff allegedly falsified bank documents and property records from 2003 to 2019 in connection with a property located in Potomac, Maryland, according to a May memorandum submitted by FHFA Director William Pulte.
The memo indicates that Schiff repeatedly listed properties in both Maryland and California as his “primary residence,” which would make him eligible for better mortgage rates and loan conditions.
Director Pulte’s memo stated, “Based on media reports, Mr. Adam B. Schiff has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms, impacting payments from 2003–2019 for a Potomac, Maryland-based property.”
The FHFA regulates and oversees institutions such as Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.
These agencies play a central role in maintaining stability within the housing and mortgage markets in the United States.
Pulte emphasized the broader risks of such allegations in his referral.
“As regulator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, we take very seriously allegations of mortgage fraud or other criminal activity. Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market,” he wrote.
The referral was prompted by findings from Fannie Mae’s financial crimes investigations unit.
Schiff allegedly engaged in “a sustained pattern of possible occupancy misrepresentation” across five separate mortgage loans, according to internal documentation.
The Post Millennial highlighted that the referral further outlines a timeline of activity beginning in early 2009. On February 6, 2009, Schiff reportedly refinanced the Maryland property in question under the pretense that it was his primary residence.
This designation remained unchanged through several financial transactions until October 13, 2020, when the Maryland home was finally designated as a second home.
President Donald Trump responded to the news of the investigation with a post on Truth Social.
“Adam Schiff said that his primary residence was in MARYLAND to get a cheaper mortgage and rip off America, when he must LIVE in CALIFORNIA because he was a Congressman from CALIFORNIA,” Trump wrote.
Trump added, “I always knew Adam Schiff was a Crook. The FRAUD began with the refinance of his Maryland property on February 6, 2009, and continued through multiple transactions until the Maryland property was correctly designated as a second home on October 13, 2020.”
“Mortgage Fraud is very serious, and CROOKED Adam Schiff (now a Senator) needs to be brought to justice,” Trump continued.
At this time, no charges have been filed against Schiff.
The Department of Justice has not released any public statements confirming or denying the existence of an active investigation, which is standard practice during pending probes.
Schiff has not publicly addressed the allegations or the criminal referral. His office has not issued a press statement or responded to media inquiries regarding the matter.
WATCH:
The post Criminal Probe Targets Sen. Adam Schiff for Allegedly Falsifying Mortgage Records — Fed Investigation Underway appeared first on Resist the Mainstream.
Click this link for the original source of this article.
Author: Jordyn M.
This content is courtesy of, and owned and copyrighted by, https://resistthemainstream.org and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
