ALBANY, N.Y. (WRGB) — New York Attorney General Letitia James has been charged with fraud by a Virginia federal grand jury. The Department of Justice announced that James could face up to 60 years in prison and a $2 million fine if convicted. The charges include alleged bank fraud and providing false statements to a financial institution. The indictment claims James misrepresented a Virginia property as her second home to secure more favorable mortgage terms, while it is allegedly being used as a timeshare.
Aaron Pam, a senior associate at Tully Rinckey, explained the prosecution’s burden to prove that James knowingly made false statements.
“Financial crimes can be somewhat complex. This involves banking matters, but effectively, they’re going to attempt to approve that she knowingly made a false statement,” Pam said.
He noted that such cases are common but not often prosecuted, suggesting that the pursuit of charges against James could be seen as a targeted attack.
James has called the charges “baseless,” attributing them to political retribution.
“These charges are baseless, and the president’s own public statements make clear that his only goal is political retribution at any cost,” she stated on social media.
Pam suggested that if the court finds the prosecution to be politically motivated, the case may not proceed to trial.
“If the court decides that Letitia James is being prosecuted by the United States Attorney’s office based on political motives, then this case will never see trial and shouldn’t see trial,” he said.
