A federal grand jury in Virginia has indicted New York Attorney General Letitia James on charges of bank fraud and making false statements to a financial institution.

U.S. Attorney for the Eastern District of Virginia Lindsey Halligan said James faces 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.”

In a statement, James said the charges were part of President Donald Trump’s effort to impose “political retribution at any cost.”

NY AG’S OFFICE HIRES ATTORNEY THAT REPPED HUNTER BIDEN TO DEFEND LETITIA JAMES AGAINST FRAUD ACCUSATIONS

“His decision to fire a United States Attorney who refused to bring charges against me – and replace them with someone who is blindly loyal not to the law, but to the president – is antithetical to the bedrock principles of our country,” James said. “This is the time for leaders on both sides of the aisle to speak out against this blatant perversion of our system of justice. 

“I stand strongly behind my office’s litigation against the Trump Organization,” she added. “We conducted a two-year investigation based on the facts and evidence – not politics. Judges have upheld the trial court’s finding that Donald Trump, his company, and his two sons are liable for fraud.” 

Earlier this year, the Justice Department opened an investigation into James for alleged mortgage fraud. This after James successfully won a civil case last year against Trump and his Trump Organization over allegations of faulty business practices.

In a letter, Federal Housing Finance Director Bill Pulte alleged that James could have engaged in mortgage fraud by making false or misleading statements on property records, like a loan application that said her property in Virginia is her primary residence, a building record stating her multifamily Brooklyn property incorrectly has five residences instead of four and a mortgage application that falsely stated James was her father’s spouse.

In September, a housing and finance banker familiar with the investigation into James told Fox News that she is under scrutiny for, in at least one instance, declaring an investment property she owns as her primary or secondary residence, which would give her better loan terms.

TRUMP TO FORCE OUT VIRGINIA PROSECUTOR AMID PRESSURE TO INDICT LETITIA JAMES

James, a second-term Democrat, has denied wrongdoing. She previously said she made an error while filling out a form related to the home purchase but fixed it. She noted that she never tried to deceive the lender. 

“I am a proud woman of faith, and I know that faith and fear cannot share the same space,” she said on Thursday. “And so today I am not fearful, I am fearless, and as my faith teaches me, no weapon formed against me shall prosper. We will fight these baseless charges aggressively, and my office will continue to fiercely protect New Yorkers and their rights. And I will continue to do my job.” 

Sen. Chuck Schumer, D-N.Y., criticized Trump, saying he was using the Justice Department as his “personal attack dog” to go after his political opponents. 

“This is what tyranny looks like. President Trump is using the Justice Department as his personal attack dog, targeting Attorney General Tish James for the ‘crime’ of prosecuting him for fraud—and winning,” he said. “One U.S. Attorney already refused this case. So, Trump hand-picked an unqualified hack that would go after another political enemy. This isn’t justice. It’s revenge. And it should horrify every American who believes no one is above the law.”

Halligan was appointed to oversee the case by Trump after her predecessor, Erik Siebert, was ousted. 

Siebert had reportedly expressed doubts about bringing cases against James and former FBI Director James Comey, both longtime critics of Trump. Trump has previously called for James to be charged over the past several months. 

“Nothing is being done. What about Comey, Adam ‘Shifty’ Schiff, and Leti[t]ia???” Trump wrote in a social media post last month, directly addressing Attorney General Pam Bondi and referring to James and U.S. Sen. Adam Schiff, D-Calif. “We can’t delay any longer, it’s killing our reputation and credibility. They impeached me twice, and indicted me (5 times!), OVER NOTHING. JUSTICE MUST BE SERVED, NOW!!!”

“Those of us on the President’s enemies list, and it is a long and growing list, will not be intimidated, will not deterred,” Schiff told reporters on Thursday. “We will do our jobs. We will stand up to this President”

New York Gov. Kathy Hochul characterized Thursday’s indictment as the “weaponization of the Justice Department” to target James. 

“New Yorkers know @NewYorkStateAG James for her integrity, her independence, and her relentless fight for justice,” Hochul wrote on X. “What we’re seeing today is nothing less than the weaponization of the Justice Department to punish those who hold the powerful accountable.”

James’ initial appearance is scheduled for Oct. 24 in Norfolk, Virginia before Magistrate Judge Douglas E. Miller.

Thursday’s indictment came two weeks after Comey was charged with lying to Congress. 

Fox New’s Bill Mears, Jake Gibson, David Spunt and Fox News Digital’s Alex Miller contributed to this report.