New York Attorney General Letitia James, a Democrat, was indicted by a federal grand jury in Virginia Thursday afternoon.
James is charged on two counts, one of bank fraud, and another of making false statements to a financial institution.
The case is centered around a house she purchased in Norfolk, Virginia in 2020. Under the conditions of the loan, James was supposed to occupy and use the home as her secondary residence. Instead, she allegedly used it as a rental property.
According to the indictment, James was granted the loan with a 3% interest rate. It the loan had been taken out for an investment property, the interest rate would have been 3.815%. By getting the loan for the lesser interest rate, the indictment says she saved more than $17,000 in interest over the lifetime of the loan.
The full indictment has now been released to the public.
READ IT ALL BELOW or CLICK HERE to read online.
BREAKING: Grand jury indicts NY AG Letitia James on bank fraud charge [She responds]
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