Among the seemingly countless things that President Trump has been accused of over his years in politics, is mortgage fraud.
One of the Democrats most gleeful in going after Trump has been former Rep./now Senator Adam Schiff (D-CA).
Well, now the shoe is on the other foot.
From Samantha Chang’s article at The Western Journal, via msn.com, we have this:
In a farcical irony, Democratic Sen. Adam Schiff of California could face criminal prosecution for financial real-estate fraud — something Democrats had toothlessly accused President Donald Trump of doing.
As a reminder, Trump was not criminally charged in the 2022 civil lawsuit filed by left-wing New York Attorney General Letitia James.
In contrast, Schiff could be criminally prosecuted and faces a potential jail sentence of 20 years.
William Pulte, the director of the Federal Housing Finance Agency, made the criminal referral in a May 27 letter to the Justice Department, but the allegations were made public this week.
In his letter, Pulte said, 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.”
In a nutshell, Schiff — a resident of California — is accused of falsely claiming his Maryland home was his primary residence in order to get a lower interest rate.
“Mr. Schiff appears to have falsified records in order to receive favorable loan terms, and also appears to have been aware of the financial benefits of a primary residence mortgage when compared to a secondary residence mortgage,” Pulte wrote in his criminal referral letter to the DOJ.
In 2009, 2011, 2012, and 2013, Schiff refinanced his Maryland home and listed it as his “principal residence.”
At the same time, he simultaneously listed his California condo as his primary residence in separate financing documents.
If these allegations are true, Pulte said, it appears Schiff committed the following federal crimes:
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- Bank fraud.
- Making false statements to a financial institution.
- Wire fraud.
- Mail fraud.
Oops.
Schiff, without specifically denying a thing, has referred to these charges as “a baseless attempt at political retribution”. Again: he has, so far at least, not specifically denied he did what he has been charged with.
And President Trump’s no-doubt gleeful reaction?
“I have always suspected Shifty Adam Schiff was a scam artist. And now I learn that Fannie Mae’s Financial Crimes Division have concluded that Adam Schiff has engaged in a sustained pattern of possible Mortgage Fraud. 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. 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.”
How will this play out? I don’t know. Politicians have a way of eluding responsibility for a lot of things that would give you or me inescapable legal consequences.
But – like New York Attorney General Letitia James – the mortgage fraud charges against Schiff, to this legalese amateur, look pretty air-tight.
Oh, and despite the clear evidence, James calls the charges “baseless” – using the same word Schiff is using to deny the equally clear evidence against him. Quite the coincidence.
Stay tuned.
