"Probe follows a lawsuit filed by Cook challenging Trump firing her from the central bank on mortgage fraud allegations. The United States Department of Justice has launched a criminal mortgage fraud probe into US Federal Reserve Governor Lisa Cook. The Justice Department has also issued grand jury subpoenas out of both Georgia and Michigan, the Reuters news agency reported on Thursday, citing a source familiar with the matter."
"The Justice Department was scrambling to invent new justifications for Trump's overreach in firing the Fed governor. He wants cover, and they are providing it. The questions over how Governor Cook described her properties from time to time, which we have started to address in the pending case and will continue to do so, are not fraud, but it takes nothing for this DOJ to undertake a new politicised investigation, and they appear to have just done it again, Lowell said."
The Department of Justice has opened a criminal mortgage fraud investigation into Federal Reserve Governor Lisa Cook, issuing grand jury subpoenas in Georgia and Michigan. The probe followed a criminal referral from Federal Housing Finance Agency Director Bill Pulte and involves special assistant US attorney Ed Martin alongside US Attorneys' Offices in the Northern District of Georgia and the Eastern District of Michigan. Pulte alleges Cook listed multiple properties as primary residences on mortgage applications to obtain lower interest rates. Cook owns properties in Michigan, Georgia and Massachusetts. President Trump terminated Cook citing the allegations, and Cook has filed suit to challenge her removal. Cook's lawyer described the inquiry as politicized. The case could reach the Supreme Court and carry implications for Federal Reserve independence and interest-rate policymaking.
Read at www.aljazeera.com
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