The Justice Department has issued a subpoena and initiated a criminal investigation into allegations of mortgage fraud involving Federal Reserve Governor Lisa Cook, according to a report from Thursday.
Attorney General Pam Bondy and Ed Martin, Chief Executive of the Department of Justice, will oversee the investigation into potential mortgage fraud by public officials.
This inquiry followed claims from Bill Pulte, the head of the Federal Housing and Treasury Agency (FHFA), who suggested that Cook had committed mortgage fraud related to two of his properties in Michigan and Georgia.
Pulte asserts that there is video evidence indicating Cook declared multiple properties as her primary residence, but still owes on them. John Nolte from Breitbart News provided his take:
There’s just one issue. Neither Cook nor her legal team can escape the reality that she secured a low mortgage rate through allegedly false statements made on her mortgage application.
The documents indicate that her home in Ann Arbor, Michigan, was listed as a “major residence,” alongside condos in Atlanta, Georgia, and houses in Massachusetts that were labeled as “second homes.” It’s possible she’s renting them as a result of her situation… All three.
Up to this point, the FHA (Federal Housing Administration) has made two criminal referrals against Lisa Cook regarding mortgage fraud.
Cook has also filed a lawsuit, claiming that Trump’s attempt to dismiss her from the Federal Reserve is unlawful and lacks justification. Her attorney, Abbe Lowell, argues that her dismissal is not linked to any unproven allegations of mortgage fraud, but rather a reaction to the president’s policies regarding interest rates.
Lowell stated that Cook “has never committed mortgage fraud” and contended that the Biden administration possesses documents contradicting her property claims. However, a source familiar with the situation mentioned to Breitbart News that the Senate Banking Committee, during her confirmation, had no access to the information verifying whether she had submitted dual claims on her mortgage application. The committee could have received data about any rental income from her secondary and tertiary properties, but it remained uncertain if she had obtained a preferential mortgage rate by stating residency in those homes.
If Trump successfully removes Cook from the Fed, the majority of the board could potentially be candidates favored by Trump.
“We’ll have a majority soon,” Trump stated, referencing his plans to oust Cook.
