The FBI has opened a formal criminal probe into New York Attorney General Letitia James for alleged mortgage fraud after a request to investigate James was sent last month by Federal Housing Finance Agency Director William Pulte.

According to a report from the New York Post citing a source familiar with the matter, the investigation into James is being led by US Attorney John Sarcone III, who has been an ally of President Donald Trump.

James allegedly “falsified records” that enabled her to get more favorable loans on a home in Virginia that she purchased in 2023, according to the request from Pulte.

The referral from Pulte stated, “Based on media reports, Ms. Letitia James has, in multiple instances, falsified bank documents and property records to acquire government backed assistance and loans and more favorable loan terms. This has potentially included 1) falsifying residence status for a Norfolk, Virginia-based home in order to secure a lower mortgage rate and 2) misrepresenting property descriptions to meet stringent requirements for government backed loans and government assistance.”

Records showed that James listed the home that she bought in Virginia in 2023 as her “principal residence,” which can sometimes allow for more favorable interest rates on home loans. However, during that time, James was also serving as the attorney general for New York. 

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