Rep. Eric Swalwell, D-Calif., a relentless thorn in President Donald Trump’s side, is now under the microscope of the Department of Justice for alleged mortgage fraud involving millions in loans.
The story, first broken by NBC and confirmed by Fox News, centers on a probe into Swalwell’s financial dealings, with accusations of mortgage fraud, tax discrepancies at state and local levels, insurance fraud, and related offenses, all sparked by a referral from the Federal Housing Agency’s director to Attorney General Pam Bondi, as Fox News reports.
This investigation kicked off with a pointed letter from Bill Pulte, director of the Federal Housing Agency, sent on Wednesday to Bondi, alleging that Swalwell may have provided false or misleading information on loan documents.
According to a source familiar with the referral, the heart of the probe lies in claims that Swalwell declared his primary residence as Washington, D.C., to secure millions in loans and refinancing deals—a move that could raise serious legal questions if proven inaccurate.
While the Department of Justice has been contacted by Fox News Digital for comment, no official response has yet been made public, leaving room for speculation about the depth of this financial scrutiny.
Swalwell, never one to shy away from a fight with the Trump administration, has predictably framed this as political retaliation, though one wonders if his ledger will balance as neatly as his rhetoric.
“As the most vocal critic of Donald Trump over the last decade and as the only person who still has a surviving lawsuit against him, the only thing I am surprised about is that it took him this long to come after me,” Swalwell declared.
His defiance is bold, but let’s be real—when you’ve spent years painting a target on a president’s back, it’s hardly shocking that the administration might dig into your books with a fine-tooth comb.
“Of course, I will not end my lawsuit against him. And I will not stop speaking out against the President and speaking up for Californians,” Swalwell added, doubling down on his stance.
Adding fuel to the fire, Swalwell’s campaign finances have also come under the spotlight recently, with Federal Election Commission filings revealing what some call a “bizarre inconsistency” in payments exceeding $360,000 to a staffer named Darly Meyer since 2021.
These payments, ranging from $53 to over $12,000, cover a dizzying array of purposes—travel, security, salary, event flowers, and even postage—while Meyer raked in over $120,000 last year alone, with similar earnings projected for 2025.
Then there’s the eyebrow-raising spending on luxury car services, upscale dining, and posh hotels in cities like Dubai and Paris, which hardly screams “frugal public servant” to those of us who value fiscal restraint over progressive extravagance.
On the very day this probe made headlines, MSNBC reported that Swalwell might be eyeing a run for California governor, with two sources suggesting a decision is nearly finalized and an announcement could drop as early as next week.
Though Swalwell declined to comment on his potential candidacy and his office has been mum despite outreach from Fox News Digital, it’s hard not to see this as a convenient pivot—perhaps a bid to shift focus from federal probes to statehouse dreams, though that’s a tough sell when your financial house isn’t in order.
Let’s not forget Swalwell’s past claims of Trump-Russia collusion, which were later undermined by both the 2019 Mueller report and the 2023 Durham report, the latter finding no actual evidence to justify the initial investigation—a reminder that bold accusations don’t always hold water, much like some of these loan declarations might not.
