Sam Antar, the infamous former CFO of the Crazy Eddie electronics empire, has emerged as a central figure in a controversial investigation.

According to Fox News, Antar claims he independently uncovered documentation suggesting New York Attorney General Letitia James engaged in mortgage fraud, leading to a criminal referral to the Justice Department by the Federal Housing Finance Agency (FHFA).

The self-proclaimed fraud expert asserts his investigation spans decades of James' financial records, revealing potential misrepresentations in mortgage applications.

His findings include allegations about properties in Virginia and Brooklyn, as well as questionable mortgage documents involving James' father.

Former Crazy Eddie insider turns fraud investigator

Antar's involvement adds an unexpected twist to the ongoing saga between James and President Donald Trump. The former fraudster, who helped orchestrate one of the most notorious financial scams in New York's history during the 1980s, has reinvented himself as a white-collar crime expert.

After pleading guilty to multiple felonies and cooperating with prosecutors to convict his cousin Eddie Antar, Sam transformed his career path. He now operates a website dedicated to investigating financial fraud and provides expertise to government agencies and law firms.

Working independently and using his forensic accounting skills, Antar says he posted his findings about James weeks before the FHFA's involvement. He emphasizes his Democratic political affiliation and insists his investigation is not connected to the Trump administration.

Multiple properties under scrutiny

The FHFA's criminal referral focuses on several properties owned by James, including a recently purchased home in Virginia. Documents suggest James may have misrepresented the Virginia property as her primary residence in 2023 despite serving as New York's attorney general.

James' legal team counters these allegations, explaining that while a power-of-attorney form incorrectly listed the property as her primary residence, subsequent communications clearly indicated it would serve as her niece's primary residence. They provided evidence showing the mortgage broker understood this arrangement.

Questions also surround a Brooklyn property James purchased in 2001. The certificate of occupancy lists five units, but James reportedly represented the property as having four units in various mortgage applications and building permits.

Historical mortgage applications raise concerns

Antar said about his investigation:

I documented everything that I did. And I stand by everything I did. I did this on my own time, my own dime. Everything that I've done is thoroughly documented. This is not bullying. This is not the Trump administration at war. Trump has his own agenda. I don't care. I am not Donald Trump. All I did was, I did my forensic accounting and I thoroughly documented everything that I did.

The investigation has also unveiled mortgage applications from 1983 and 2000, where James, who never married, allegedly listed her father as her husband on documents for Queens properties.

Her attorney, Abbe Lowell, disputes these claims, noting that deed records clearly identify the relationship as father and daughter.

Legal response and ongoing investigation

James' legal team has mounted a vigorous defense against the allegations. They argue that the FHFA's referral cherry-picks information while ignoring contradictory evidence that would exonerate their client.

The attorney general's office maintains that James has been transparent about her property holdings and their uses. They emphasize that any discrepancies in documentation were either clerical errors or misunderstandings that had no material impact on the mortgage terms.

These developments come as James continues to pursue legal action against Trump, including a $454 million civil fraud judgment currently under appeal.

Investigation implications and next steps

Sam Antar's investigation has sparked a significant controversy surrounding New York's top law enforcement official. The former Crazy Eddie CFO maintains he worked independently to uncover documents suggesting potential mortgage fraud by Attorney General Letitia James.

The matter now rests with the Justice Department, which must evaluate the FHFA's criminal referral and James' legal team's response. The investigation's outcome could have significant implications for both James' career and her ongoing legal battles with President Trump.