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Letitia James pleads not guilty on federal bank fraud charges

Letitia James pleads not guilty on federal bank fraud charges
New York Attorney General Letitia James pleaded not guilty on Friday morning to federal bank fraud charges, multiple outlets reported.Why it matters: President Trump publicly demanded James' prosecution, and went as far as firing a federal prosecutor who refused to pursue charges. James has called the case "baseless" and motivated by political retribution over the civil fraud case she brought against Trump. A tentative trial date was set for Jan. 26, per the New York Times. Prosecutors said they expect the trial to take about a week.Context: The Federal Housing Finance Agency wrote a criminal referral for James in April for allegedly falsifying bank statements to receive "more favorable loan terms" on a second home in Norfolk, Virginia.A grand jury in Virginia indicted James this month on charges of bank fraud and making false statements to a financial institution.What she's saying: "This is nothing more than a continuation of the president's desperate weaponization of our justice system," James said on Oct. 9. "He is forcing federal law enforcement agencies to do his bidding, all because I did my job as the New York State Attorney General."In a civil fraud lawsuit against Trump for improper business practices, James secured a $364 million fine. It was later tossed by an appeals court. Catch up quick: Erik Siebert, a U.S. attorney in Virginia, resigned last month after he said he couldn't pursue a mortgage fraud case against James. Trump said he fired Siebert.He was replaced with Lindsey Halligan, Trump's personal attorney who has no prosecutorial experience.Go deeper: What to know about Trump's DOJ indictment of Letitia JamesEditor's note: This is a breaking news story. Check back for updates.

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