After a three-year investigation, New York Attorney General Letitia James is suing former US President Donald Trump and his company, the Trump Organization.

The charge is of fraud , the demand is for compensation of $ 250 million and a ban on Trump from running companies in New York State .

The civil lawsuit was also filed against his three adult children, Donald Trump Jr., Eric and Ivanka Trump, and against two former Trump Organization managers, Allen Weisselberg and Jeff McConney.

Trump, his company and his three sons have allegedly been lying to banks and insurance companies for over a decade, fraudulently inflating the value of their assets, the prosecutor explained. James said she was convinced that the tycoon and his companies violated "various criminal laws of the state and conceivably also the federal ones" in order to "make a profit."

James - who does not have the authority to file criminal charges - will report the findings in the investigation to federal authorities in Manhattan.

Trump is " the victim of political persecution ," said former President Liz Harrington's spokesperson. "This is the story of two judicial systems - he added -, one thanks to which criminals are free and another with which the democrats only persecute their political opponents".

Donald Trump speaks of a "witch hunt", calling the prosecutor James a "racist who has failed in his race for governor" and a "scammer" .

(Unioneonline / L)

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