The New York state attorney general's office filed a $250 million lawsuit Wednesday against former President Donald Trump, his family and the Trump Organization for committing "staggering fraud" in real estate. The over 200-page lawsuit alleges Trump "falsely inflated his net worth by billions of dollars to further enrich himself and cheat the system."

The lawsuit alleges that Trump inflated the values of his properties and golf courses, including his Mar-a-Lago property in Florida, which Trump valued at $739 million. The lawsuit alleges that Mar-a-Lago generated less than $25 million in revenue and its actual valuation is closer to $75 million.

"White collar financial crime is not a victimless crime," Attorney General Letitia James, a Democrat, said at a press conference Wednesday.

She said that Trump's practices were designed to "deceive banks and people of the great state of New York."

The lawsuit seeks $250 million in restitution. The lawsuit also seeks to bar the Trump organization from conducting business in the state for five years.

The lawsuit includes Trump's children Donald Trump Jr., Ivanka Trump and Eric Trump. The lawsuit also named former Trump Organization chief executive Allen Weisselberg and current controller Jeffrey McConney.

Weisselberg, 75, pleaded guilty to tax fraud last month in a separate case.

James filed the lawsuit after a three-year investigation into the Trump Organization's business dealings between 2011 and 2021. The attorney general's inquiry began after Donald Trump's former personal lawyer Michael Cohen testified before Congress about the organization's dealings.

"The pattern of fraud and deception that was used by Mr. Trump and the Trump Organization for their own financial benefit is astounding," James said.

James doesn't have the authority to pursue criminal charges. The Manhattan District Attorney's office has an ongoing criminal investigation into the Trump Organization.

James also said she referred her findings to the IRS and the Southern District of New York.