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Eric Trump. Photo: Noam Galai/WireImage

New York Attorney General Letitia James (D) announced Monday that her office had filed a lawsuit to compel the Trump Organization to comply with subpoenas related to an investigation into whether President Trump and his company improperly inflated the value of its assets on financial statements.

The state of play: The investigation was launched after the president's former personal attorney Michael Cohen testified to Congress that Trump inflated and deflated his net worth at various times in order to obtain tax benefits and more favorable terms for loans.

The big picture: The attorney general's investigation is one of several probes that Trump and his company are facing as he seeks re-election in November. Earlier on Monday, Manhattan District Attorney Cy Vance said he would hold off on a subpoena for Trump's financial records until an appeals court weighed in on the case.

What they're saying: "I took action to force the Trump Organization, and specifically EVP Eric Trump, to comply with my office’s ongoing investigation into its financial dealings. For months, the Trump Organization has failed to fully comply with our subpoenas in this investigation," James said in a statement.

  • "We are seeking thousands of documents and testimony from multiple witnesses regarding several Trump Organization properties and transactions, including from Eric Trump, who was intimately involved in one or more transactions under review."
  • "The Trump Organization has stalled, withheld documents, and instructed witnesses, including Eric Trump, to refuse to answer questions under oath. That's why we filed a motion to compel the Trump Organization to comply with our lawful subpoenas for documents and testimony."

Read the AG's filing.

Go deeper

Scoop: Trump privately discussing 2024 run

Photo: Brendan Smialowski/AFP via Getty Images

President Trump has already told advisers he's thinking about running for president again in 2024, two sources familiar with the conversations tell Axios.

Why it matters: This is the clearest indication yet that Trump understands he has lost the 2020 election to Joe Biden — even as the president continues to falsely insist that he is the true winner, that there has been election fraud and that his team will fight to the end in the courts.

Updated 47 mins ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.