New York attorney general Letitia James has said her office is set to make a “major announcement” within hours.
The state’s top lawyer has rejected at least one settlement offer from former president Donald Trump, who her office has been investigating for the past three years.
But she has given no details of why she called the press conference for 10.30am ET, to which press have been invited.
During the course of her probe into the Trump Organization, Ms James has alleged that Mr Trump inflated or devalued the value of his properties in paperwork to secure hundreds of millions of dollars in tax breaks or bank loans.
Ms James has said in previous court filings that her office has found evidence of possible fraud, reported ABC News.
Mr Trump has repeatedly denied any wrongdoing and claims that the investigation into his finances and company is a political “witch hunt.”
Last month Mr Trump repeatedly invoked the Constitution’s Fifth Amendment during a six-hour deposition in New York.
Sources told ABC News that the only question the former president answered was when he was asked his own name, and otherwise invoked the Fifth Amendment, which protects Americans against self-incrimination.
During his deposition, Mr Trump released a statement that read, “Under the advice of my counsel … I declined to answer the questions under the rights and privileges afforded to every citizen under the United States Constitution.”
It is not the only investigation that Mr Trump is currently embroiled in, as in August federal agents raided his Mar-a-Lago home and seized boxes of top secret documents.
Mr Trump has claimed that the documents were either planted at his estate or that he actually declassified them. The status of the documents is now in the hands of a special master to review.