Former President Donald Trump invokes Fifth Amendment rights and declines to answer questions from NY attorney general

(CNN)- Former President Donald Trump invoked his Fifth Amendment rights and declined to answer questions from the New York attorney general at a scheduled deposition Wednesday.

"Under the advice of my counsel and for all of the above reasons, I declined to answer the questions under the rights and privileges afforded to every citizen under the United States Constitution," Trump said in a statement.

Trump was to be deposed by lawyers from New York Attorney General Letitia James' office as part of a more than three-year civil investigation into whether the Trump Organization misled lenders, insurers and tax authorities by providing them misleading financial statements.

Trump said in a post on Truth Social earlier Wednesday morning that he would be "seeing" James "for a continuation of the greatest Witch Hunt in U.S. history! My great company, and myself, are being attacked from all sides. Banana Republic!"

Trump was seen leaving Trump Tower in New York City on Wednesday morning, and his motorcade arrived at the New York attorney general's office shortly after.

The scheduled deposition comes during an extraordinary legal week for the former President. On Monday, the FBI executed a search warrant at Mar-a-Lago, his primary residence in Florida, in connection with an investigation into the handling of classified documents. On Tuesday, a federal appeals court denied his long-running effort to block a House committee from obtaining his tax returns.

Some Trump advisers had advocated that the former President answer questions since he previously testified about his financial statements under oath, while others warned him against providing any answers because of the potential legal jeopardy he may face, people familiar with the matter tell CNN. The Manhattan district attorney has a separate ongoing criminal investigation into the Trump Organization.

Another consideration that had been discussed, the people familiar say, is the political implications of not answering questions as Trump is widely expected to announce that he will run for president in 2024. While campaigning in 2016, Trump suggested not answering questions was a sign of guilt. At a campaign stop in Iowa in 2016, Trump said, "If you're innocent, why are you taking the Fifth Amendment?"

In his statement Wednesday, Trump said, "Now I know the answer to that question" and decried James' investigation. The former President and the Trump Organization have previously denied any wrongdoing.