(This story has been updated with the joint statement from U.S. Senators Alex Padilla and Adam Schiff)

California's high-speed rail project risks losing $4 billion in federal funding after a probe by the U.S. Department of Transportation found the project in default of the terms of two federal grant awards.

In a letter of determination sent to Ian Choudri, Chief Executive Officer of the California High-Speed Rail Authority (CHRSA), the Federal Railroad Administration (FRA) cited missed deadlines, budget shortfalls, and overrepresentation of projected ridership among the key findings from its over 300-page report.

Referring to the project that once aimed to link San Francisco and San Diego via a series of bullet trains as a "Sisyphean endeavor," the federal probe determined that " even

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