Tag: fraud

How the Fired Fed Governor Lisa Cook Engaged in Blatant Mortgage Fraud — It’s Far Worse Than You Think

Will Too Late Jay Powell allow an illegitimate Fed meeting September 16-17, 2025?

Cook’s false occupancy statements on mortgage applications are confirmed by her numerous errors and omissions in her signed U.S. Office of Government Ethics financial filings.

But wait, there’s more. Did Cook exploit regulatory lapses at a free-wheeling DC credit union where they ignored risks and gave her two low-interest rate mortgages?

Cook likely could not have tricked the underwriting systems at major banks, Fannie Mae, and Freddie Mac, but was approved for two first mortgages from Bank-Fund Staff Federal Credit Union (“BFSFCU”), where she was somehow admitted by BFSFCU as a member even though she has no known affinity to meet eligibility.

Cook made false statements on two mortgage applications that BFSFCU overlooked and closed the two mortgages as primary or secondary residences in Atlanta, GA, and Cambridge, MA, when instead the loans should have been properly disclosed as riskier, higher down payment, and higher rate and fee rental properties.

Cook already had a primary residence and a first mortgage prior to being let into BFSFCU.

Cook later listed on her OGE filings that she had an Ann Arbor property mortgage originated by Members First Mortgage, a State credit union affiliate.

Bank-Fund Staff Federal Credit Union in Washington, D.C., is a community – and employer-based membership credit union with $6.5 billion in assets and over 100,000 members.

Eligible members are employees and families of the World Bank and International Monetary Fund, with one exception: membership is open to citizens from terrorist countries on the U.S. Treasury list of sanctioned enemies of America.

How is she eligible for BFSFCU, and why did she slide into their DC offices?

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Michigan Democrats Caught in $5 Billion Fraud Scheme

Republicans in Michigan have exposed one of the most blatant examples of budgetary abuse in recent memory. 

House Republicans say their review of the state budget revealed more than $5 billion in waste, fraud, and abuse, hidden through the creation of 4,277 “phantom jobs.” 

These positions do not exist in reality but were used to justify line items that allowed Democrats to funnel money toward radical priorities rather than essential services. 

Among the spending categories tied to these fake jobs are taxpayer-funded gender surgeries for convicted criminals and millions in “arts and culture” grants for organizations that cannot even be identified.

Under complete Democrat control, Lansing has allowed the budget to balloon to over $82 billion—the largest in state history. 

Compared to just two years ago, state spending has grown by nearly 20%, and rather than delivering real benefits for taxpayers, the increase has been absorbed by programs that advance ideological goals. 

Roads remain among the worst in the nation, insurance rates continue to weigh down families, and basic services show little improvement. Yet Democrats diverted billions toward programs that would not survive public scrutiny if debated honestly.

Republicans have presented a clear alternative. Their plan eliminates the fake jobs, strips out the fraudulent spending categories, and redirects those funds to priorities that ordinary citizens actually value. 

That includes repairing infrastructure, providing real tax relief, and ensuring that schools have the resources needed to educate students rather than serve as staging grounds for partisan experiments. 

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California Democrat Lobbyist Gets Six Months in Jail for Wire Fraud

The downfall of Melahat Rafiei, once an influential figure in Orange County Democrat politics, is now official. 

On Friday, a federal judge sentenced Rafiei to six months in prison for attempted wire fraud, closing a case that has lingered since her 2019 arrest. 

The ruling not only punished her crimes but also highlighted how deeply corruption has penetrated Democrat politics in California.

Rafiei, who previously led the Orange County Democrat Party and worked as a prominent lobbyist, admitted guilt in 2023 under a plea agreement with federal prosecutors.

In addition to acknowledging the wire fraud charge, she admitted that she attempted to bribe two Irvine City Council members to secure favorable cannabis legislation. 

Although she was not charged with the bribery allegations, her plea agreement made it clear that she had actively used political influence for personal and financial gain.

The judge imposed a sentence of six months in federal custody, a $10,000 fine, and three years of supervised release. 

He also emphasized that Rafiei had been able to build her career because of democrat institutions and that she had abandoned those principles in pursuit of power and money. 

Rafiei has been ordered to surrender to authorities by late September.

In court, Rafiei offered little defense beyond expressing that she would accept whatever penalty the court determined. 

Her legal team argued that she had made a positive contribution to the community in the past and highlighted the number of friends and relatives who supported her at sentencing. 

They portrayed her as someone who had already lost her career and reputation, even before serving time in prison.

The case had been stalled for years, mainly because Rafiei agreed to cooperate with federal investigators after her arrest. 

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Letitia James Caught Harboring Fugitive! — Jailbird Niece is Hiding Out in Letitia’s “Primary Residence” Mortgage Fraud Home in Virginia

The North Carolina Department of Adult Correction is actively searching for Nikia Monique Thompson, the fugitive daughter of New York Attorney General Letitia James’s niece

Thompson, listed as an “Absconder” (offender number 0898340) on the department’s official site, is wanted for violating probation terms. North Carolina authorities are urging anyone with knowledge of her whereabouts to call their tip line at 1-888-646-0024.

Where is Nikia Monique Thompson hiding? All indications, including from Letitia James herself, are that Thompson is hiding out at Letitia’s “mortgage fraud” home in Norfolk, Virgina.

This means that Letitia James herself could be charged with harboring a fugitive. And, because it involves interstate flight, James could be subject to federal harboring law which carries up to 5 years in prison.

As detailed on Sam Antar’s White Collar Fraud website, Letitia James co-signed for a mortgage for a property located at 604 Sterling Street in Norfolk, Virginia, alongside her niece, Shamice Thompson-Hairston in August 2023.

Despite being a permanent resident of Brooklyn and New York State Attorney General, as part of this transaction, James executed a notarized Power of Attorney (POA) which included a sworn declaration stating, “I hereby declare that I intend to occupy this property as my principal residence.”

William Pulte, Director of the Federal Housing Finance Agency, cited this declaration in an April 14, 2025, letter to U.S. Attorney General Pam Bondi, alleging that James may have falsified bank documents and property records to acquire government-backed loans with more favorable terms, since her “primary residence” declaration was instrumental in securing lower mortgage rates.

In addition, James’s 2011 HAMP loan that I covered in The Gateway Pundit was also cited by Pulte for investigation.

On May 21, 2025 while speaking before the Association for a Better New York, Letitia James attempted to deflect the growing controversy over her criminal referral to the DOJ by claiming her motives were purely familial.

“In reality, the power of attorney was never used to determine my eligibility for a mortgage for my niece for a home in the state of Virginia,” James said. “My niece has children, and because I’m a good aunt, I wanted her to have a home.”

But as I detailed in The Gateway Pundit in Crime Runs in the Family! Letitia James Buys Home for Niece’s Jailbird Adult Kids, James’s explanation, that she is a “good aunt” merely helping her niece and her children, was misleading. The “children” whom James’s statement implied were minors, are both adults, and both have significant criminal histories.

Nakia Monique Thompson has a criminal record spanning 20 years in the states of Virginia and North Carolina, and include multiple convictions for contributing to delinquency of a minor, abuse of child, possession of burglary tools, third degree larceny, assault and battery,  trespassing, shoplifting, resisting arrest, disorderly conduct, possession of marijuana, driving with a suspended license, and even malicious conduct while incarcerated.

Her persistent criminal activity underscores the seriousness of James’s role in providing Thompson with a hide out while on the run from North Carolina authorities.

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A 3rd Property!? Pulte Drops New Criminal Referral On Lisa Cook As Mortgage Scandal Widens

On Thursday night, Federal Housing Finance Agency (FHFA) Director Bill Pulte dropped a second criminal referral against Federal Reserve Governor Lisa Cook based on evidence that she entered into a 15-year mortgage on a third property which she listed as her “Second Home.” 

On an ethics form signed with the government, however, Cook noted it as an “investment/rental property.”

Why is this bad and not simply a ‘clerical error’? As Pulte notes, “Representing the property as a second home may have allowed Cook to secure a lower “Second Home” mortgage down payment and rates, as investment properties typically carry higher down payments and higher rates due to increased risk.”

This new criminal referral follows an initial referral Pulte made after Cook listed two properties as her ‘primary residence’ in 2021 – ostensibly reaping manifold benefits on tax treatment and interest rates, which Cook hasn’t denied. 

About that Clerical Error…

Earlier Thursday, Cook filed a lawsuit against the Trump administration after President Donald Trump fired her on Monday ‘for cause.’ Among the excuses contained in the lawsuit for listing two properties as her primary residence was a possible clerical error. 

Except, Cook described herself in her 2023 nomination hearing as having “significant experience in banking and finance, as is evidenced by my service on the board of directors of the Federal Reserve Bank of Chicago and of a Community Development Financial Institution in Michigan, in addition to my employment at an investment bank and a large commercial bank.” 

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Victim Loses $91M in Bitcoin in Social Engineering Scam: ZachXBT

A fraudster posing as a hardware wallet support agent tricked the target into handing over wallet credentials.

What to know:

  • A victim lost 783 BTC in a social engineering scam after an attacker impersonated hardware wallet support.
  • The stolen funds were funneled through multiple deposits into Wasabi Wallet, a privacy tool used to mask transaction trails.
  • The hack came exactly one year after the $243M Genesis creditor theft, underscoring ongoing vulnerabilities in crypto security.

Blockchain sleuth ZachXBT uncovered a high-profile social engineering attack on Thursday, with the victim losing 783 BTC worth around $91.4 million.

The scam occurred on Aug. 19 and involved the attacker posing as a support agent for a hardware wallet before duping the victim into handing over wallet credentials.

The attack mirrors a string of social engineering attacks over the past year and contributes to an already woeful year in terms of hacks and scams, with crypto investors losing $3.1 billion in the first half of 2025.

Once the malicious transfer was made, the funds began their journey through a typical laundering process, with multiple deposits made into Wasabi Wallet, a privacy tool commonly used to obfuscate the trail.

The hack occurred exactly one year after the $243 million Genesis creditor theft, a landmark event that sent ripples across the industry and led to the arrest of 12 people in California in May.

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Trump fires Federal Reserve Gov. Lisa Cook over mortgage fraud allegations

President Trump fired Federal Reserve Gov. Lisa Cook Monday over allegations that she committed mortgage fraud.

“Pursuant to my authority under Article Il of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” Trump wrote in a letter addressed to Cook, which he posted on Truth Social.

Cook, however, argued that Trump has “no authority” to fire her and indicated that she’s not leaving her post, in a statement.

“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said, according to multiple outlets. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”

The longtime academic, who previously served on former President Barack Obama’s White House Council of Economic Advisers and former President Joe Biden’s transition team, has hired former first son Hunter Biden’s lawyer, Abbe Lowell, to represent her. 

In a statement, Lowell vowed to take “whatever actions are needed” to stop what he described as Trump’s “illegal action.”

Cook’s firing comes after Federal Housing Finance Agency Director Bill Pulte accused the Federal Reserve board member of falsifying bank documents and property records to secure better loan terms, in a criminal referral sent to Attorney General Pam Bondi last week.

Pulte alleged in an X post that Cook had designated a condo in Atlanta as her primary residence in July 2021, just two weeks after taking a loan on her Michigan home, which she also declared as a primary residence.

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Reporter Thrown Out of Fed’s Jackson Hole Conference, Charged With Criminal Trespass For Asking Federal Reserve Governor Lisa Cook Questions About Her Mortgage Fraud Scandal

A reporter was thrown out of the Fed’s annual Jackson Hole conference and hit with a criminal trespass notice for asking Federal Reserve Governor Lisa Cook questions about her mortgage fraud scandal.

Fed Chair Jerome Powell, Federal Reserve Governor Lisa Cook, Governor of the Bank of England, President of the European Central Bank and others were present at the Fed’s annual press conference in Jackson Hole, Wyoming on Friday.

CNBC reported on Lisa Cook’s attendance at the annual conference in Jackson Hole.

Federal housing regulator Bill Pulte has produced documents alleging Lisa Cook committed mortgage fraud – specifically occupancy fraud – when she lied about her out-of-state Atlanta condo being her ‘primary residence.’

According to Pulte’s criminal referral, Lisa Cook committed mortgage fraud by lying on her mortgage application and falsifying bank statements when she designated her out-of-state Atlanta condo as her “primary residence”—just two weeks after taking a loan on her Michigan home, which she also claimed as her “primary residence.”

By claiming “primary residence” on her out-of-state condo, Lisa Cook received more favorable loan terms and a lower interest rate.

On June 18, 2021, Cook acquired a loan on a property in Ann Arbor, Michigan. On the mortgage agreement, Cook represented to “use the Property as Borrower’s principal residence within 60 days after the execution of her agreement, Pulte said.

On July 2, 2021, just two weeks later, Lisa Cook also purchased a condo in Atlanta and entered a 30-year mortgage agreement and affirmed the property would serve as her primary residence within 60 days of the execution of the mortgage and would serve as her primary residence for a full year, Pulte’s referral said.

Pulte dropped more receipts on Friday morning as Lisa Cook attended the annual conference in Wyoming.

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Adam Schiff, Facing Criminal Investigation, Forms Legal Defense Fund

Sen. Adam Schiff (D-CA), who abused his positions on the House Intelligence Committee and the January 6 Committee to pursue political foes, has formed a legal defense fund to deal with his own mounting legal woes.

The New York Times reported Tuesday:

As a member of the U.S. House, Mr. Schiff led congressional inquiries into Mr. Trump during his first term in the White House. He served as the lead impeachment manager in Mr. Trump’s first impeachment and then on the committee that investigated the Jan. 6, 2021, riot at the Capitol.

…

Paperwork for the “Senator Schiff Legal Defense Fund” filed with the Internal Revenue Service is dated Aug. 14, records show.

“It’s clear that Donald Trump and his MAGA allies will continue weaponizing the justice process to attack Senator Schiff for holding this corrupt administration accountable,” said Marisol Samayoa, a spokeswoman for Mr. Schiff. “This fund will ensure he can fight back against these baseless smears while continuing to do his job.”

As ranking member of the House Intelligence Committee, Schiff leaked information that he hoped would implicate then-President Donald Trump in so-called “Russia collusion,” often lying to the public about it.

Schiff also tried to suppress findings by then-chairman Rep. Devin Nunes (R-CA) into the origins of the Russia investigation, and targeted Kash Patel, a key investigator — who now is the head of the FBI.

When Schiff became chairman of the committee, he launched an investigation that would lead to the first Trump impeachment, lying to the public about his staff’s contact with a so-called “whistleblower.” Schiff promised the whistleblower would testify, then reneged on that promise and invented a false right for the whistleblower not to be named in public. He conducted hearings in secret, leaking reports about what was said that often turned out to be the opposite of what actually happened, and suppressing contrary testimony.

The final House Impeachment Report revealed that Schiff had spied on Nunes, on Patel, and on Trump’s attorney. He failed to defend the report at the House Judiciary Committee, sending a staffer instead.

After failing to convince the Senate to convict Trump, Schiff went on to serve on the one-sided January 6 Committee, which protected then-Speaker Nancy Pelosi (D-CA) and again held secret hearings in which witnesses had few due process rights. The committee later destroyed its documents to cover up its work.

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Trump Calls on Biden-Appointed Federal Reserve Governor Lisa Cook to Resign After FHFA Director Pulte Sends Criminal Referral to DOJ for Mortgage Fraud

President Trump called on Biden-appointed Federal Reserve Governor Lisa Cook to resign on Wednesday after  the head of the U.S. Federal Housing Finance Agency, Bill Pulte, criminally referred her to the Justice Department for mortgage fraud.

According to Pulte’s criminal referral, Lisa Cook committed mortgage fraud by lying on her mortgage application and falsifying bank statements when she designated her out-of-state Atlanta condo as her “primary residence”—just two weeks after taking a loan on her Michigan home, which she also claimed as her “primary residence.”

By claiming “primary residence” on her out-of-state condo, Lisa Cook received more favorable loan terms and a lower interest rate.

On June 18, 2021, Cook acquired a loan on a property in Ann Arbor, Michigan. On the mortgage agreement, Cook represented to “use the Property as Borrower’s principal residence within 60 days after the execution of her agreement, Pulte said.

On July 2, 2021, just two weeks later, Lisa Cook also purchased a condo in Atlanta and entered a 30-year mortgage agreement and affirmed the property would serve as her primary residence within 60 days of the execution of the mortgage and would serve as her primary residence for a full year, Pulte’s referral said.

According to Pulte, while Cook affirmed her Atlanta property would serve as her primary residence, online records indicate that the property was listed for rent in September 2022.

“While the property was listed for rent in 2022, a review of Ms. Cook’s federal government financial disclosures for calendar years 2022 and 2023 indicate that she has not disclosed any rental income tied to this address,” Pulte wrote in his criminal referral.

This is textbook occupancy fraud.

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