Report: DOJ Opens Mortgage Fraud Probe Into Federal Reserve Gov. Lisa Cook

The Department of Justice (DOJ) has launched a criminal mortgage fraud investigation into Federal Reserve Governor Lisa Cook, involving grand jury subpoenas issued in Georgia and Michigan, the Wall Street Journal reports.

The probe comes days after Cook sued President Donald Trump over his attempt to fire her from the Federal Reserve board. Trump cited unproven mortgage fraud allegations lodged against her by Bill Pulte, the Trump loyalist directing the Federal Housing Finance Agency (FHFA).

The DOJ did not immediately respond to Democracy Docket’s request for comment on the probe.

The DOJ’s inquiry is reportedly being headed by Ed Martin, the far-right Trump supporter who has been tapped by Attorney General Pam Bondi to investigate mortgage fraud allegations raised by Pulte against several of Trump’s political adversaries.

Pulte has ignored similar cases involving Republicans.

Those targeted by Pulte include New York Attorney General Letitia James (D) and Sen. Adam Schiff (D-Calif.) — two of Trump’s foremost political adversaries.

Legal experts have criticized Pulte’s use of the FHFA to initiate the investigations, and have accused the administration of weaponizing the federal bureaucracy to go after the president’s political opponents and public officials who attempt to hold him accountable.

The investigation into Cook, who was appointed by former President Joe Biden, is focused on properties in Ann Arbor, Mich., and Atlanta, the WSJ reported. 

Pulte’s allegations against Cook and her attempted dismissal come amid Trump’s wider attempt to assert control over the Federal Reserve, which was designed to operate independently of the executive branch to avoid political interference in monetary policy decisions.

Trump has heavily criticized Fed Chairman Jerome Powell over his monetary decisions and concerns about tariff-induced inflation. Pulte has incessantly called on the chairman to resign or be fired.