New York Attorney General Letitia James is one of the few Democrats who have had the guts to cross swords with Donald Trump, but she is already paying the price.
According to reports, James was indicted Thursday by a federal grand jury in Virginia, and this comes not long after Trump publicly asked his Justice Department appointees to target her.
Why is New York AG James facing charges?
Bloomberg cited confidential sources alleging that James’ bank fraud indictment comes after she faced allegations from Trump administration officials that accuse her of engaging in mortgage fraud.
The allegation is based on claims made by Federal Housing Finance Agency Director Bill Pulte and alleges that she may have committed mortgage fraud based on the residence status she listed on loan applications.
According to the indictment, James falsely claimed that a home in Norfolk, Virginia, was her second residence that she rented to a family of three, which allowed her to obtain favorable loan terms.
If convicted, James could face up to 30 years in prison and up to a $1 million fine on each count. However, she has vehemently denied the charges, and her lawyer is being cautious with his statements.
The case is being overseen by acting U.S. Attorney Lindsey Halligan—a former personal attorney to President Trump—who has described the charges as representing “intentional, criminal acts and tremendous breaches of the public’s trust.”
The indictment is being regarded as political retaliation by critics
AG Letitia James has been ruffling feathers for a long time with a track record of a rampaging regulatory enforcement streak. In fact, some Republicans and crypto enthusiasts may dare to say she has had it coming, as she has been a person of interest because her office, the New York Attorney General’s Office, has aggressively enforced the state’s stringent cryptocurrency regulations under the BitLicense framework established in 2015.
She also got on President Trump’s bad side while he was out of office.
Last month, Trump called for legal action against James in a message to Attorney General Pam Bondi on social media, claiming that delay can no longer be entertained because it is killing the American reputation and credibility.
“JUSTICE MUST BE SERVED, NOW!!!” Trump wrote in a Truth Social post.
This comes not long after the US attorney’s office in the Eastern District of Virginia secured a grand jury indictment against former FBI Director James Comey, who the president also publicly called to be prosecuted.
Comey has also denied the allegations and is fighting the charges in court. Both cases are already heightening concerns about the Department’s independence and fueling allegations that prosecutors are improperly using the office to punish those who stand against the president.
This is especially concerning when Trump critics recall how Erik Siebert resigned from the Virginia U.S. Attorney’s office last month amid pressure.
Siebert had refused to support charges against James, claiming there wasn’t enough evidence. Trump has since installed Lindsey Halligan as interim US attorney, and she has delivered indictments against both Comey and James.
Claim your free seat in an exclusive crypto trading community - limited to 1,000 members.
