President Donald Trump accused California Senator Adam Schiff of mortgage fraud on Tuesday, claiming Schiff misrepresented his primary residence to secure better mortgage rates. Trump made these allegations on Truth Social, labeling Schiff a “scam artist” for allegedly declaring a Maryland property as his primary residence while serving as a congressman from California. Schiff has denied these accusations, calling them “baseless” and a form of political retaliation.
According to Fox News, Schiff has not responded to repeated questions about the allegations. Trump alleged that Schiff’s fraudulent activities began in 2009 and continued until 2020, when the Maryland property was correctly designated as a secondary residence. However, Trump did not provide evidence to support his claims.
The accusations have been referred to the Justice Department, according to the Washington Post. A confidential memo from Fannie Mae’s financial crimes division mentioned “possible occupancy misrepresentation” on five loans related to Schiff’s properties in Maryland and California. However, the memo did not explicitly accuse Schiff of fraud.
Schiff, who has been a vocal critic of Trump, suggested that the allegations were an attempt to distract from controversies surrounding Trump, including issues related to Jeffrey Epstein. Schiff’s spokesperson stated that all lenders were aware of his dual residence arrangement, which was necessary for his congressional duties.
As the situation develops, it remains to be seen whether the Justice Department will pursue a criminal case against Schiff. Meanwhile, Schiff continues to deny any wrongdoing, framing the allegations as a continuation of Trump’s attacks on his political adversaries.
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