In a farcical irony, Democratic Sen. Adam Schiff of California could face criminal prosecution for financial real-estate fraud — something Democrats had toothlessly accused President Donald Trump of doing.
As a reminder, Trump was not criminally charged in the 2022 civil lawsuit filed by left-wing New York Attorney General Letitia James.
In contrast, Schiff could be criminally prosecuted and faces a potential jail sentence of 20 years.
William Pulte, the director of the Federal Housing Finance Agency, made the criminal referral in a May 27 letter to the Justice Department, but the allegations were made public this week.
In his letter, Pulte said, Schiff “has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms, impacting payments from 2003-2019 for a Potomac, Maryland-based property.”
In a nutshell, Schiff — a resident of California — is accused of falsely claiming his Maryland home was his primary residence in order to get a lower interest rate.
“Mr. Schiff appears to have falsified records in order to receive favorable loan terms, and also appears to have been aware of the financial benefits of a primary residence mortgage when compared to a secondary residence mortgage,” Pulte wrote in his criminal referral letter to the DOJ.
In 2009, 2011, 2012, and 2013, Schiff refinanced his Maryland home and listed it as his “principal residence.”
At the same time, he simultaneously listed his California condo as his primary residence in separate financing documents.
If these allegations are true, Pulte said, it appears Schiff committed the following federal crimes:
Is Schiff guilty of real-estate fraud?
- Bank fraud.
- Making false statements to a financial institution.
- Wire fraud.
- Mail fraud.
Trump torched Schiff in a withering Truth Social post on Tuesday.
“Adam Schiff said that his primary residence was in MARYLAND to get a cheaper mortgage and rip off America, when he must LIVE in CALIFORNIA because he was a Congressman from CALIFORNIA,” the president wrote.
“I always knew Adam Schiff was a Crook.”
Donald J. Trump Truth Social 07.15.25 10:20 AM EST
I have always suspected Shifty Adam Schiff was a scam artist. And now I learn that Fannie Mae’s Financial Crimes Division have concluded that Adam Schiff has engaged in a sustained pattern of possible Mortgage Fraud. Adam Schiff…
— Fan Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) July 15, 2025
On Tuesday, Pulte said Fannie Mae’s Financial Crimes Division “concluded that Mr. Schiff has engaged in a sustained pattern of possible Mortgage Fraud.”
President Trump’s Truth Post this morning is accurate as Fannie Mae’s Financial Crimes Division concluded that Mr. Schiff has engaged in a sustained pattern of possible Mortgage Fraud.
Fannie Mae Chairman
William J. Pulte— Pulte (@pulte) July 15, 2025
Schiff responded by claiming this was a “baseless attempt at political retribution” by Trump, who’s still upset that the Democrat had led the first impeachment against the president in 2019.
Since I led his first impeachment, Trump has repeatedly called for me to be arrested for treason.
So in a way, I guess this is a bit of a letdown.
And this baseless attempt at political retribution won’t stop me from holding him accountable.
Not by a long shot. pic.twitter.com/zC5W2lFF3Z
— Adam Schiff (@SenAdamSchiff) July 15, 2025
This karmically satisfying incident is poetic justice for Schiff, who has never been punished for shamelessly pushing the bogus Russian-collusion hoax.
As has been the case since Trump first entered politics, Schiff and other Democrats appear to have committed the very crimes they falsely accused the president of committing.
For reference, New York Attorney General Letitia James — who prosecuted Trump for financial fraud — is currently under criminal investigation for allegedly committing mortgage fraud.
BREAKING: Letitia James confronted at a Town Hall after the FBI launched an investigation:
“Will you apologize to President Trump and the state of NY for wasting millions of dollars for a witch trial and how does it feel to know that you will be in prison for mortgage fraud?” pic.twitter.com/HNT1vQMry8
— ALX 🇺🇸 (@alx) May 9, 2025
Time and time again, Democrats prove the adage that “every accusation is a confession.”
In other words, whenever a leftist accuses you of something, it’s because they’re guilty of doing it themselves.
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