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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 46 mins ago - Sports

Katie Ledecky wins gold in first women's 1500m freestyle

Team USA's Katie Ledecky celebrates after winning the final of the women's 1,500m freestyle swimming event during the Tokyo 2020 Olympic Games at the Tokyo Aquatics Centre in Tokyo on Wednesday. Photo: Attila Kisbenedek/AFP via Getty Images)

Katie Ledecky took home the Olympic gold medal in the women's 1,500-meter freestyle swimming race Tuesday evening, becoming the first female swimmer to win the newly added division. Team USA's Erica Sullivan won silver.

Of note: The Tokyo Games mark the first time that the long-distance race has been open to women, and Ledecky paid tribute to her predecessors after the race. "I just think of all the great U.S. swimmers who didn’t have a chance to swim that event," she said on NBC.

Updated 56 mins ago - Sports

Olympics dashboard

Katie Ledecky celebrates with teammate Erica Sullivan after winning the women’s 1500m freestyle final. Photo: Tom Pennington/Getty Images

🚨: Katie Ledecky wins gold in first women's 1500m freestyle

🤸🏾‍♀️: Simone Biles pulls out of gymnastics team finals, citing her mental health

🎾: "This one sucks more than the others," Naomi Osaka says on upset loss

⚽️: USA women's soccer ties Australia, propelling them to the quarterfinals

🏊‍♀️: Teen swimmer Lydia Jacoby wins first U.S. women's Tokyo Games gold

👟: World Athletics president supports reviewing marijuana rules in doping

🏄‍♀️: American Carissa Moore wins first-ever women's Olympic gold in surfing

Go deeper: Full Axios coverage - Medal tracker