New York's attorney general sues Trump and 3 of his children for alleged fraud

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Following a three-year investigation, New York's Democratic Attorney General Letitia James filed a civil lawsuit on Wednesday against former President Donald Trump.

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"The complaint demonstrates that Donald Trump falsely inflated his net worth by billions of dollars to unjustly enrich himself, to cheat the system," James said at a press conference.

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In a statement posted on the Truth Social media site, Trump blasted the lawsuit as "another witch hunt" which he said was motivated by James' reelection bid.

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"She is a fraud who campaigned on a 'get Trump' platform," Trump posted.

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The lawsuit also targets members of Trump's longstanding executive team, including members of his family: Donald Trump Jr., Ivanka Trump and Eric Trump.

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Responding to the suit, Donald Trump Jr. used an expletive on Twitter next to a video of James: "The bullshit Dem witch-hunt continues!" he wrote.

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Posting on the Truth Social media site, Eric Trump also accused James of a partisan attack: "Letitia James is the most corrupt Attorney General in United States History — she campaigned on the promised to sue my father."

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During her press conference, James acknowledged she would face criticism that her lawsuit is partisan.

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She noted her three-year investigation of Trump "only started after Michael Cohen, his former lawyer, testified before Congress about this conduct."

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According to James, Trump's operation "repeatedly and consistently manipulated the value of assets" in order to win favorable loan terms from banks and to reduce tax payments.

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"This conduct was all in violation of" New York state law, James said.

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