James to be arraigned on federal bank fraud charges, expected to plead not guilty

New York Attorney General Letitia James will be arraigned Friday in Virginia on federal bank fraud charges and is expected to plead not guilty.

The Justice Department indicted James earlier this month, alleging that she misrepresented how she would use a house she bought in 2020 in Norfolk, southeast Virginia, so she could obtain a lower interest rate on her mortgage, CBS News reported. According to the indictment, instead of using the property as a second home, she allegedly rented it to a family member, treating it as an investment property, in contravention of the mortgage terms. 

U.S. District Judge Jamar Walker, a Biden appointee, is overseeing the case.

James called the charges “baseless.”

“This is nothing more than a continuation of the president’s desperate weaponization of our justice system,” she said.

James’ attorney, Abbe Lowell, said the New York attorney general “flatly and forcefully denies these charges,” and that he is “deeply concerned that this case is driven by President Trump’s desire for revenge.”