[The stream has ended. Read CNBC’s full coverage of James’ lawsuit here.]
New York Attorney General Letitia James, who led the civil investigation into the former president Donald Trump‘s company, is announcing a major lawsuit against former President Donald Trump, his three grown children and his company over widespread claims of fraud.
James’ announcement comes almost a week later following a report by The New York Times that she rejected an offer from Trump’s lawyers to settle her investigation into the Manhattan-based Trump Organization.
James’ office investigated the company for allegations that it may have fraudulently misrepresented the value of various real estate assets in order to obtain financial benefits in the form of better loan and insurance rates, as well as tax breaks.
Trump has repeatedly denied any wrongdoing and accused James, a Democrat, of being politically motivated to investigate the former Republican president.
In August, Trump appeared for a deposition conducted by James’ attorneys. He invoked his Fifth Amendment right against self-incrimination more than 440 times by refusing to answer questions under oath.
Donald Trump Jr., who runs the Trump Organization with his brother Eric, previously answered questions from investigators under oath in August, as did their sister Ivanka Trump. Previously, Ivanka was the head of the Trump Organization.
Eric Trump invoked his Fifth Amendment rights more than 500 times when he was questioned under oath in the October 2020 investigation, according to filing a lawsuit in January.