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Trump, family members sued by New York AG Letitia James, accused of massive fraud

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NY AG Letitia James

New York Attorney General Letitia James on Wednesday accused former President Donald Trump of massive fraud in a civil lawsuit following a three year inquiry into the finances of the family business.

James said Trump "falsely inflated his wealth by billions of dollars" to enrich himself and his family and the lawsuit seeks to effectively shutter the former president's namesake business, the Trump Organization.

"Mr. Trump thought he could get away with the art of the steal, but today, that conduct ends," James said. "There aren't two sets of laws for people in this nation: former presidents must be held to the same standards as everyday Americans."

James said she has referred some of the allegations to federal authorities, including the Manhattan U.S Attorney's Office and the IRS for possible criminal investigation.

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