The case is a civil case and concerns Trump’s activities as a real estate mogul. The family company is suspected of having systematically defrauded society of money.
State Attorney General Letitia James, a Democrat, has previously said she has found “substantial evidence” that the Trump Organization has overvalued assets to obtain loans, and undervalued them to reduce taxes.
In August, Donald Trump was questioned under oath in New York about his real estate dealings. He then chose to remain silent by invoking the Fifth Amendment of the US Constitution.
The amendment includes, among other things, the right not to testify against oneself, and not to answer questions.
At a news conference after Wednesday’s announcement, James told reporters that she wants the former president to pay more than $2.7 billion in punitive damages — as well as ban the Trump family “from doing business in New York for good” and bar him and his companies from to buy real estate in the state for five years.
In addition to Trump’s three oldest children – Donald Jr., Ivanka and Eric Trump – the lawsuit also names the two longtime employees Allen Weisselberg and Jeffrey McConney.
Letitia James also said her office submitted a letter of criminal activity in the case to the US Department of Justice.