New York lawsuit against Trump, family could prompt new federal criminal inquiries

• The lawsuit announced Wednesday does not carry criminal penalties.
• But findings are being referred to Internal Revenue Service and federal prosecutors in Manhattan.
• The New York AG seeks $250 million in penalties.

The New York attorney general's lawsuit accusing former President Donald Trump and three of his children of perpetrating a decade-long fraud scheme carries no criminal penalties.

Yet the extraordinary civil action, which seeks $250 million in penalties, could open new avenues of criminal inquiry by federal authorities already involved in a multi-pronged examination of Trump's conduct.

While detailing a litany of allegations involving bank, tax and insurance fraud related to inflated valuations attached to the former president's residential and commercial properties, New York Attorney General Letitia James also revealed that she was referring the findings to federal prosecutors in Manhattan and the Internal Revenue Service for possible criminal investigation.

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