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FIRST ON FOX: A Senate Republican needs to crack down on public officers who use their place to develop their wealth.
Sen. John Cornyn, R-Texas, is about to introduce laws that might create stiffer penalties for public officers who commit federal financial institution fraud, tax fraud, or mortgage or mortgage fraud. Cornyn’s invoice comes on the heels of two such cases the place prime officers and lawmakers had been hit with allegations of mortgage fraud.
FEDERAL HOUSING OFFICIAL SUBMITTED SCHIFF CRIMINAL REFERRAL TO DOJ OVER MORTGAGE DOCUMENTS
Sen. John Cornyn, R-Texas, is seen after the Senate luncheons within the U.S. Capitol on Tuesday, June 3, 2025. (Tom Williams/CQ-Roll Name, Inc by way of Getty Photos)
Certainly, Cornyn’s Legislation Enforcement Instruments to Interdict Troubling Investments in Abodes (LETITIA) Act is known as for New York Legal professional Basic Letitia James.
The Justice Division earlier this yr opened an investigation into James, who efficiently received a civil case final yr towards President Donald Trump and his Trump Group over allegations of defective enterprise practices, for alleged mortgage fraud.
Sen. Adam Schiff, D-Calif., left, and New York Legal professional Basic Letitia James have been hit with allegations of mortgage fraud. (AP)
DEPARTMENT OF JUSTICE OPENS CRIMINAL INVESTIGATION INTO NY AG LETITIA JAMES
Federal Housing Finance Director Invoice Pulte alleged in a letter that James may have engaged in mortgage fraud by making false or deceptive statements on property data, like a mortgage software that mentioned her property in Virginia is her major residence, a constructing file stating her multifamily Brooklyn property incorrectly has 5 residences as an alternative of 4, and a mortgage software that falsely said James was her father’s partner.
“This laws would empower President Trump to carry crooked politicians like New York’s Letitia James accountable for defrauding their constituents, violating their oath of workplace, and breaking the regulation, and I’m proud to steer my Republican colleagues in introducing it,” Cornyn mentioned in an announcement.
TAXPAYERS COULD BE FORCED TO FUND TRUMP FOE LETITIA JAMES’ LEGAL DEFENSE IF DEM BUDGET ITEM PASSES
U.S. Sen. Adam Schiff (D-CA), joined by Sen. Chris Murphy (D-CT), speaks at a press convention introducing the Assault Weapons Ban of 2025 on April 30, 2025, in Washington, DC.
Cornyn’s invoice additionally comes after his colleague Sen. Adam Schiff, D-Calif., was equally hit with allegations of mortgage fraud.
In one other letter to the Justice Division, Pulte charged that Schiff falsified financial institution paperwork and property data by itemizing houses in Maryland and California as his major residence out of an effort to allegedly get extra favorable loans.
The invoice, which is to date co-sponsored by six Senate Republicans, would improve federal statutory most sentences and fines for public officers who abuse their workplaces and violate the general public belief to commit financial institution fraud, mortgage or mortgage fraud, or tax fraud.
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It could create new necessary minimal sentences, together with one yr for financial institution fraud, one yr for mortgage or mortgage fraud, and 6 months for tax fraud. And if a public official engages in a repeated sample of offenses, minimal sentences improve to 5 years for financial institution or mortgage fraud and two years for tax fraud.
Fox Information Digital reached out to James and Schiff for remark however didn’t instantly hear again.
