Federal Probe Launches Regarding Federal Reserve Governor Lisa Cook: Inside Sources Reveal
The Department of Justice (DOJ) continues its investigation into the properties owned by Federal Reserve Governor Lisa Cook in Georgia and Michigan. This probe, which was first reported by The Wall Street Journal, has been ongoing since August.
At the heart of the investigation is a criminal inquiry into alleged false statements in mortgage applications. According to reports, Bill Pulte, the Director of the Federal Housing Finance Agency, sent two criminal referral letters about Cook to the Department of Justice last month. In these letters, Pulte accused Cook of making multiple false representations while serving as a Federal Reserve governor.
One of the allegations levied against Cook involves the falsification of bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud. In an Aug. 15 letter, Pulte made these claims, stating that Cook listed an apartment in Massachusetts as both an investment property and a second home.
President Donald Trump is seeking to terminate Cook "for cause," citing these allegations. However, Cook has filed a lawsuit to block her removal, arguing that it is unlawful and threatens the Fed's independence. The pending court case challenging Trump's effort to terminate Cook continues.
Attorney Abbe Lowell, representing Cook, has stated that the DOJ probe into Cook is a politically motivated investigation aimed at providing cover for President Trump. Pulte, on the other hand, has been vocal on social media, accusing Cook of crimes and calling for her prosecution.
In a twist, Pulte planned to hold a press conference to share new information about Cook, but later canceled it out of respect for the ongoing investigation process. Federal investigators are issuing subpoenas and utilizing grand juries in both states as part of their investigation.
Meanwhile, Pulte has written that the damage currently being done to the integrity of the Federal Reserve by Cook and Jerome Powell, the Fed's chairman, cannot be overstated. The investigation into Cook and the legal proceedings surrounding her removal are issues of significant public interest. As the investigation continues, updates are expected to provide further clarity on the matter.
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