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The first class journos at the NY Post’s exclusive eport revealed how the socialist pol lost a two-family home in Canarsie to Bank of America after he stopped paying the mortgage and racked up nearly $1 million in debt over 15 years.

Williams – who earns $184,000 annually on the govt payroll - collected thousands of dollars renting the home to multiple tenants – stopped making his $1,344 monthly mortgage payments in 2010, according to records.

Public records suggest Williams misrepresented his financial situation for years by collecting rent from multiple tenants living on the property while simultaneously being delinquent on a federally backed mortgage.

“If Mr. Williams misrepresented his financial position, rental income, or occupancy status in mortgage applications or ongoing certifications, he may have violated federal statutes governing mortgage fraud and bank fraud,” Holden wrote.

This matter is particularly troubling given Mr. Williams’ prominent public role combined with the scale of financial mismanagement and possible deception, undermines public confidence in elected leadership.

Williams possibly falsifying bank documents is a serious crime, often a federal felony, and carries significant penalties. Depending on the circumstances and the specific laws violated, it can result in imprisonment for many years, substantial fines, and other consequences like asset forfeiture.

Falsifying bank documents, especially with the intent to defraud, can be a federal felony.

18 U.S.C. § 1002: This section of the U.S. Code deals with possessing false, altered, forged, or counterfeit writings or documents to defraud the United States or any agency thereof.

18 U.S.C. § 1005:
This section prohibits making false entries in bank records, reports, or statements with the intent to defraud or deceive.

18 U.S.C. § 1344:
This law addresses bank fraud, which includes obtaining money or property from a financial institution through fraudulent means.

Conviction for bank fraud can lead to imprisonment for up to 30 years and/or a fine of up to $1 million, as well as potential asset forfeiture. Under 18 U.S.C. § 1002, penalties include fines and imprisonment for up to five years.

Falsifying bank statements, deposit slips, loan applications, or any document used to obtain money or property from a bank are all examples of falsifying bank documents.

The crime typically requires intent to defraud or deceive, meaning the person knowingly made false entries or used false documents with the goal of gaining something illegally.