3 of Donald Trump children accused

On Wednesday, New York Attorney General Letitia James filed a lawsuit accusing former President Donald Trump,

three of his grown children, and executives at his company of flagrantly manipulating property valuations

in order to deceive lenders, insurance brokers, and tax authorities into giving them better rates on bank loans and insurance policies and lowering their tax liability.

The 222-page civil complaint requests that the New York Supreme Court prohibit Trump, Donald Trump Jr., Ivanka Trump, and Eric Trump from serving as executives

at any company in New York for five years, as well as the Trump Organization from acquiring commercial real estate or receiving loans from any New York-registered financial institution.

It attempts to recoup more than $250 million in ill-gotten gains allegedly obtained through misleading activities, according to James' office.

While the complaint does not constitute a criminal prosecution, James (D) stated that she has reported potential violations of federal law to the Justice Department and the IRS.

Trump's lawyer, Alina Habba, slammed the allegations as politically motivated, calling the attorney general's claims "meritless."