New York prosecutors form grand jury: reports

New York prosecutors have convened a grand jury that is expected to decide whether to indict former president Donald Trump, suggesting they may have found evidence of a crime, US media reported Tuesday. 

The development is the latest step towards the 74-year-old Trump, who left the White House in January, possibly becoming the first ever ex-US leader to face criminal charges.

Investigators are examining whether the Trump Organization committed tax evasion, insurance and bank fraud.

Investigators suspect the Trump Organization may have artificially inflated and reduced the value of assets, particularly several properties in New York state, to either get bank loans or reduce their taxes.

Trump fired off a statement in response to the reports, rejecting the investigation as "purely political" and "a continuation of the greatest Witch Hunt in American history."

The grand jury was set up recently and will sit three days a week for six months, reported The Washington Post, citing two unnamed people familiar with the case.

The Washington Post said the move, also reported by ABC, suggests that Manhattan District Attorney Cyrus Vance may have found evidence of a crime, if not by Trump then somebody close to him.