New York Attorney General Letitia James is making what her office has described as a "major announcement" on Wednesday. According to Daily Beast reporter Jose Pagliery, James "is about to announce law enforcement action related to former President Donald Trump."
The announcement is scheduled to begin at 11:30 a.m. ET.
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Last month, the former president took to his Truth Social platform to launch a barrage of attacks on James, branding her a "racist" attorney general who is "trying to 'get Trump.'"
James is conducting "a continuation of the greatest Witch Hunt in U.S. history!" Trump wrote. "My great company, and myself, are being attacked from all sides. Banana Republic!"
James suspects the Trump Organization fraudulently overstated the value of real estate properties when applying for bank loans, while understating them with the tax authorities in order to pay less in taxes.
Trump and his eldest children, Donald Jr and Ivanka, had been due to start testifying under oath in July but the depositions were postponed due to the death of the former president's first wife.
The Trumps have denied any wrongdoing, and the former Republican leader has charged that the probe is politically motivated.
If James, an African-American Democrat, finds any evidence of financial misconduct, she can sue the Trump Organization for damages but can not file criminal charges, as it is a civil investigation.
Trump's son Eric hit out at James in a tweet Wednesday, saying his father was sitting "for a deposition in front of the most corrupt Attorney General in the United States."
Donald Trump on Wednesday also posted video clips of James verbally attacking Trump, calling him an "illegitimate president" and vowing a lawsuit.
James's probe is one of several legal battles in which Trump is embroiled, threatening to complicate any bid for another run for the White House in 2024.
The deposition comes on the heels of a Federal Bureau of Investigation raid on Trump's Florida residence in an escalation of legal probes into the 45th president that has set off a political firestorm.
The FBI declined to provide a reason for the raid, but US media outlets said agents were conducting a court-authorized search related to the potential mishandling of classified documents that had been sent to Mar-a-Lago after Trump left the White House in January 2021.
With additional reporting by AFP