BUSTED AGAIN! Letitia James’s New Fraud Uncovered! Facing 30 Years!

James Kaufman, World News Report today. Busted again. Letitia James' fraudulent $200,000 mortgage in 2021 could land her in prison for 30 years. Letitia James' New York State mortgage records indicate that she committed mortgage fraud on a $200,000 mortgage credit line. with Citizens Bank in 2021. This was just uncovered last week. Like all mortgages, it requires a signed note, a mortgage document, and recording with the county clerk. The mortgage document shows that James misrepresented her five-unit apartment building as a single-family home. That's right, no longer represented as four units, but as a single-family home. This false claim allowed James to avoid significantly higher commercial loan closing costs and higher interest rates. In New York, the number of units in a property determines whether a loan qualifies as a residential mortgage with lower interest rates, one to four family dwellings. Or whether it's a commercial multifamily building mortgage with higher interest rates and closing costs, five or more dwellings. The official certificate of occupancy, which I'm about to show y'all, for Letitia James' building at 296 Lafayette Avenue in Brooklyn, describes it as a five-unit family dwelling. That official certificate of occupancy. is the one and only controlling legal authority for unit count. Let's take a look. So we have an apartment in the basement, there's a cellar under that, an apartment on the first floor, an apartment on the second floor, and two apartments on the third floor. Oh, that's five. This is the note that reflects how Letitia James represented the property. You can see Margaridge Borough, Letitia James, dwelling one family. That's now recorded at the county clerks for everyone to view. Even though this was a five-unit building for two decades since she bought the property in 2001, James refinanced it multiple times while claiming the building had only four units. This misrepresentation, or these misrepresentations, allowed James to qualify for low residential interest rates that she was not entitled to receive. Even on her most recent refinancing, August 23, 2019, in the statute of limitations, The mortgage document lists four units. Now, this is a 2021 mortgage. On June 21st, 2021, Letitia James signed a $200,000 mortgage with Citizens Bank for a 25-year term. On the first page of the agreement, under property data, property type is listed as one family dwelling only. As I just showed you guys, this went way beyond James' past misrepresentations as she reduced the number to just one. The reason for the overkill appears clear. Commercial loan closing costs can be up to seven times higher than residential, and interest rates for commercial properties typically run one to three percent points higher. The citizen's mortgage document also shows James' fees and taxes were only $4,070, covering city and county taxes, a tax action service fee, and an MTA surcharge. Had this 2021 property been correctly recorded as a five-dwelling unit, James would have faced a commercial mortgage recording tax. Of 2.8% of the loan amount, or about $5,600, and that's just one of the ways she cheated the system. In addition, she would have been required to pay for a full commercial appraisal that costs around $5,000, title insurance, a survey, commercial underwriting, an origination fee, and legal costs. Altogether, the closing costs would have landed in the range of about $30,000, or about 15% of the loan amount. Under New York Penal Law Article 187, fraud involving a loan of more than $50,000 qualifies. As a second-degree Class C felony punishable by up to 15 years in prison. But she knows that because she's the Attorney General of New York State. Now, here's the kicker. Because Citizens Bank is a federally insured FDIC institution under 18 U.S.C. 1014, James could see a potential sentence of up to 30 years in prison, along with heavy fines for this fraud. James may have previously been relying on statutes of limitations expirations to shield her from any prosecution, but that ship will no longer be sailing based on this latest fraud uncovered in 2021. Let's get to work, Pam Bondi. This is a federal crime. God bless. Please share and subscribe. Always remember, anything's possible. Bizarro World.