CNNMoney; August 26, 2013

Donald Trump's real estate school is under attack by New York's top prosecutor, and both sides took to the airwaves Monday to elaborate on the upcoming legal battle.

During separate interviews on CNN's "New Day," New York State Attorney General Eric Schneiderman called the school a "bait-and-switch scheme," and Trump accused the prosecutor of actions akin to extortion.

Still, Trump dismissed the importance of the matter.

Trump said Schneiderman "is a total lightweight. He's an incompetent attorney general who figured he could get some publicity on [my] back."

Schneiderman filed a $40 million civil lawsuit against Trump and Trump University on Saturday, accusing the billionaire of defrauding students who attended his for-profit school. Trump University has been renamed The Trump Entrepreneur Initiative.

The lawsuit claims Trump used his celebrity status to lure students into a school that over-promised and under-delivered. A free seminar urged prospective students to pay $1,495 for a three-day workshop. That, in turn, was used to sell a $34,995 "Trump Elite" course.

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