New York Attorney General Letitia James announced the lawsuit at a press conference this morning.

President Donald Trump and his family are being sued by the State of New York for $250 Million. New York Attorney General Letitia accuses Trump and his family of consistently defrauding lenders, over-valuing over 200 of their assets, grossly inflating his net worth, and several other instances of business fraud.

James says her findings in the lawsuit could also lead to criminal charges for bank fraud.

James is also seeking to permanently ban Trump and his immediate family members from serving as an officer or director in any corporation or similar entity registered and/or licensed in New York.

James says her findings revealed today, "just scratch the surface."

This is a developing story.

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