New York AG: "We are now actively investigating the Trump Organization in a criminal capacity"

The New York attorney general's office said Tuesday night it has informed the Trump Organization that its investigation into the company "is no longer purely civil in nature" and is now a criminal one.Why it matters: New York Attorney General Letitia James' office is now working with the Manhattan district attorney's office, which has been investigating the Trump Organization for potential bank, tax and insurance fraud.Get market news worthy of your time with Axios Markets. Subscribe for free.Driving the news: New York Attorney General Letitia James (D) announced last August that her office had filed a lawsuit to compel the Trump Organization to comply with subpoenas related to an investigation into whether former President Trump and his company improperly inflated the value of its assets on financial statements.Fabien Levy, a spokesperson for James, said in an emailed statement: "We are now actively investigating the Trump Organization in a criminal capacity, along with the Manhattan DA." Levy declined to comment further. What they're saying: Representatives for the Trump Organization did not immediately respond to Axios' request for comment on the news, first reported by CNN.But Trump has previously denied any wrongdoing and accused James of "politically motivated harassment" and called the investigation by Manhattan District Attorney Cy Vance a political "witch hunt."Editor's note: This article has been updated with new details throughout.Like this article? Get more from Axios and subscribe to Axios Markets for free.