ALBANY, N.Y. (NEWS10)---New York Attorney General Tish James is facing federal charges for alleged bank fraud and making false statements.

"She is alleged to have purchased a residential property in Virgina many years ago and apply for a mortgage in order to purchase that property," said Aaron Pam, Senior Associate of Tully Rinckey.

On that application, James is accused of misrepresenting the property as her second residence. The indictment said ” the property was not occupied or used by James as a secondary residence and was instead used as a rental investment property, renting the property to a family of 3.”

And when it comes to her application for homeowners' insurance, the indictment says that it “indicated owner occupied non-seasonal use further misrepresenting the intended use of

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