WASHINGTON (TNND) — Letitia James faces 60 years in prison for allegedly violating the terms of a mortgage agreement she signed which prohibited her from renting out her second home in Norfolk, Virginia.
The loan agreement, which was obtained by The New York Post and signed by James on August 17, 2020, explicitly states that James would “maintain exclusive control” over the property meaning that she is prohibited from renting the home out or give another person “control over the occupancy or use of the Property.”
James agreed to use the secondary home for her personal use for just one year. By agreeing to the terms of the loan agreement, James was able to acquire a favorable interest rate for her $109,600 loan set at 3%, saving her nearly $19,000 in mortgage savings.
The mortgage document also states that she would be considered in default of the loan if it was revealed that she had given “inaccurate information or statements” about her use of the second home.
Federal prosecutors indicted James last week in the Eastern District of New York on bank fraud charges, accusing the former New York Attorney General of violating the terms of the loan agreement by allegedly allowing her convicted felon grandniece, Nakia Thompson, to move into the three-bedroom house with her children shortly after she closed on the house.
Thompson has allegedly been living in the house for the past five years, and she is a wanted fugitive in North Carolina for avoided probation supervision.
Prosecutors say that James filed tax documents reveal that the former Attorney General spent no days at the house and had received thousands of dollars in rental income. But, James’ niece had told a grand jury that she was living rent free at the Norfolk home. Prosecutors are their against James on proving the allegations that James’ niece was actually paying rent.
If Thompson is used as a defense witness for James, prosecutors will most likely bring up Thompson’s criminal history in an effort to discredit her testimony.
Meanwhile, James is pushing back against the charges, accusing President Donald Trump of weaponizing the Justice Department against her while at a rally for New York City mayoral candidate Zohran Mamdani.
“We see powerful voices trying to silence truth and punish dissent and weaponize justice for political gain,” James said.
“We are witnessing the fraying of our democracy, the erosion of our system of government,” James grandiosely stated, describing the current state of politics as “a defining moment in our history.”
