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US Justice Department launches criminal mortgage fraud probe into Fed Governor Cook

The Justice Department is investigating allegations that Lisa Cook misrepresented multiple properties as primary residences, potentially affecting mortgage rates and tax benefits, officials said.

  • In 2025, the U.S. Justice Department began investigating Federal Reserve Governor Lisa Cook for alleged mortgage fraud, issuing grand jury subpoenas in both Georgia and Michigan as part of the inquiry.
  • The investigation follows a criminal referral from Bill Pulte, who accused Cook of listing multiple properties as primary residences during her 2022 Fed appointment vetting.
  • Cook denies committing mortgage fraud, says Trump has fabricated the scandal, and believes he aims to fire her to appoint another person to the Fed board of Governors.
  • Ed Martin, appointed special assistant U.S. attorney, leads the probe, while Republicans refuse to hold a hearing for a new appointee until allegations are adjudicated.
  • The case challenges the Fed's independence and could influence interest rate policy amid Trump's demands for aggressive rate cuts and recent weak economic data.
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ourweekly.com broke the news in on Thursday, September 4, 2025.
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