Bessent lawyer hits 'nonsensical' report on past mortgage claims
Treasury Secretary Scott Bessent’s lawyer is pushing back on reporting that the secretary had two principal residences, an accusation that President Trump had also leveled against Federal Reserve governor Lisa Cook as cause to fire her from the central bank.
Bloomberg reported that Bessent’s mortgage documents show he agreed to occupy two houses, one in New York and one in Massachusetts, as his main residence in 2007. Alex Spiro, Bessent’s personal attorney, bashed the reporting as false.
“Nearly 20 years ago, Mr. Bessent’s lawyers filled out paperwork properly, the bank has confirmed it was done properly, and this nonsensical Bloomberg article reaches the conclusion that this was all done properly,” Spiro said in a statement to The Hill.
Bloomberg cited mortgage experts who said there were no signs of wrongdoing from Bessent based on the conflicting agreements, arguing that incongruity in mortgage filings doesn’t always provide proof of fraud.
Trump last month attempted to fire Cook, citing allegations of mortgage fraud raised in a criminal referral from the Federal Housing Finance Agency (FHFA) as “cause” for her removal. The administration alleged Cook applied to two different primary residences, one in Michigan and another described as an “Atlanta condo.”
A judge last week ruled her firing likely unlawful and reinstated her on the board. A federal appeals court also refused the Trump administration’s request on Monday to allow the firing before the Federal Reserve meeting this week.
Cook’s lawyers have said unequivocally she “did not ever commit mortgage fraud” and argued Trump didn’t had valid cause to fire her.