Former President Trump's company is now facing a criminal investigation.
Part of the investigation by New York's attorney general's office is looking into whether Trump or his businesses manipulated the value of some assets for tax benefits.
The attorney general had previously said the investigation was a "civil probe" and did not explain what sparked the change.
The attorney general's office will partner with Manhattan's district attorney who is already investigating Trump's business dealings.
In the past, Trump has called the investigation a politically motivated "witch hunt."