New York Attorney General Letitia James repeatedly described her Virginia home — now central to a federal fraud indictment — as an “investment” in official filings, raising new questions about her financial disclosures and mortgage claims.
Indicted New York Attorney General Letitia James repeatedly listed her Virginia home as an “investment” property in financial disclosure forms, despite allegedly making false statements to a bank to secure a favorable loan that prohibited rental use.
The three-bedroom Norfolk, Virginia home, purchased in August 2020 and named in Thursday’s federal indictment, appeared in James’ 2020–2023 filings to the New York State Commission on Ethics and Lobbying in Government as an “investment” worth between “$100,000 to under $150,000.” In her 2024 filing, James reclassified it as “real property” and increased its value to “$150,000 to under $250,000.”
The change came a month after the Federal Housing Finance Agency referred her to the Justice Department for allegedly falsifying records to obtain home loans. Prosecutors say James misrepresented the property as a secondary residence to secure a $109,600 mortgage at a reduced rate, saving her “approximately $18,933 over the life of the loan.”
The indictment also alleges she listed the house as “owner occupied” on insurance applications while reporting “rental real estate” income on her tax forms.
James faces charges of bank fraud and making false claims to a financial institution, which carry up to 60 years in prison and $2 million in fines.
She is due in federal court in Virginia on October 24 and is expected to face legal fees that could reach $10 million.