Washington (US), September 5 (Kiran News) — The US Department of Justice has initiated a criminal investigation into Federal Reserve Governor Lisa Cook over alleged fraud, according to court records and media reports. It remains unclear which US attorney offices are leading the probe, but sources suggest that prosecutors have begun issuing subpoenas in connection with properties Cook owns in Georgia, Massachusetts, and Michigan.
The New York Times reported that the inquiry stemmed from an earlier investigation by Federal Housing Finance Agency (FHFA) Director Bill Pulte’s office, which alleged that Cook manipulated bank documents to secure favourable terms in a financial matter. Following those findings, the case was referred to the Justice Department for criminal review.
The development comes amid heightened political scrutiny. Former US President Donald Trump had previously announced plans to remove Cook from the Federal Reserve.
Recently, reports also suggested that Cook had been dismissed, prompting her to file a lawsuit against the administration. Her legal team described the move as an unlawful attempt to undermine the traditional independence of the Federal Reserve.
In a statement on Thursday, Cook’s attorney Abbe D. Lowell criticised the investigation, saying reports show the Trump administration is “attempting to invent new justifications for its overreach.” He further called the Justice Department “perhaps the most politicised” in US history.
A Justice Department spokesperson declined to comment on the matter.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.