James is accused of committing bank fraud for allegedly making false statements in connection with a home purchase in Norfolk, Virginia, in 2020.

Lindsey Halligan, the US Attorney for the Eastern District of Virginia, said James could face up to 30 years in prison per count, up to a $1 million fine on each count, and forfeiture if she's convicted.

"No one is above the law. The charges as alleged in this case represent intentional, criminal acts and tremendous breaches of the public's trust," Halligan said. "The facts and the law in this case are clear, and we will continue following them to ensure that justice is served."

James denies any wrongdoing and alleges the charges are only political payback.

"These charges are baseless, and the president's own public statements make clear that his only goal is political retribution at any cost," James said in a statement. "The president's actions are a grave violation of our Constitutional order and have drawn sharp criticism from members of both parties."

James sued Donald Trump and his businesses in a civil fraud case that resulted in a $489 million fine. As CBN News reported, conservatives accused the judge in the case, a lifelong donor to the Democratic Party, of being part of a scheme to weaponize the justice system against Trump.

An appeals court overturned the fine in that case, but allowed the conviction to stand.

James, a Democrat, said in a statement that she stood by her investigation of Trump and his company as having been "based on the facts and evidence—not politics."

Her lawyer, Abbe Lowell, says the attorney general is scheduled to make an initial appearance in federal court in Norfolk, Virginia, on Oct. 24.

Lowell also claimed in a statement that the case is only about revenge. "When a President can publicly direct charges to be filed against someone—when it was reported that career attorneys concluded none were warranted—it marks a serious attack on the rule of law."

James purchased the home where she has family, the Associated Press reports. During the sale of the home, the 66-year-old signed a document called a "second home rider," in which she agreed to keep the property primarily for her "personal use and enjoyment for at least one year," unless the lender agreed otherwise.

The indictment alleges that instead of using the residence as a second home, she rented it out to a family of three. Therefore, the alleged misrepresentation allowed her to obtain favorable loan terms not available for investment properties.

After handing up the indictment, Attorney General Pam Bondi wrote on X, "One tier of justice for all Americans."

The indictment comes days after former FBI Director James Comey pleaded not guilty to federal charges filed by the DOJ.

Comey has been indicted by a grand jury for obstruction in the Russia hoax investigation. The charges stem from his 2020 testimony to Congress over the FBI's investigation into debunked allegations of collusion between President Trump's 2016 campaign and Russia.

Prosecutors contend Comey lied to Congress during that testimony. His attorney called the charges a "vindictive" and "selective" prosecution. Subscribe for free to Breaking Christian News here

Talia Wise has served as a multi-media producer for CBNNews.com, CBN Newswatch, The Prayer Link, and CBN News social media outlets.

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