Trump senior aide Jason Miller said in a statement that Schneiderman's latest action looking into the Trump Foundation is another partisan attempt to tarnish the candidate's reputation.
Jatras said Trump, as a NY billionaire, had no need to try and make profits out of his charitable foundation whereas Bill and Hillary Clinton had used their charitable foundation to attract billions of dollars.
The Trump Foundation has been hit by a number of damaging media stories.
Schneiderman, a supporter of Hillary Clinton, has insisted no political motivations were behind the Trump University inquiry and had not hesitated to discuss the case publicly.
The Trump campaign dismissed the claims and stated that Schneiderman has overlooked the wrongdoings of the Clinton Foundation for years.
In 2013 Trump's foundation contributed $25,000 to Florida Attorney General Pam Bondi.
'My interest in this issue really is in my capacity as regulator of nonprofits in NY state, ' Schneiderman said.
"And we've inquired into it, and we've had correspondence with them". I didn't make a big deal out of it or hold a press conference.
On Tuesday, the Attorney General for the state of New York Eric Schneiderman, a member of the Democratic Party, said in an interview that he is "looking into" the Trump Foundation, which is the charity run by US Republican presidential nominee Donald Trump.
Trump and Bondi denied the donation had any effect on her decision.
While Schneiderman did not specify the focus of his investigation, his announcement comes as Washington Post reports suggested donations to Trump's foundation were passed off as contributions from himself, CNN noted.
Trump's spokeswoman Hope Hicks confirmed to AP that Trump and Bondi spoke before his charity donated to a group supporting her candidacy, but says they didn't discuss any potential lawsuit.
Mr Trump has accused Ms Clinton of being corrupted by donors to the Clinton Foundation global charity founded by her husband, former USA president Bill Clinton, while she was secretary of state from 2009 to 2013.
Shady enough that the state of NY has launched an official inquiry into possible "impropriety" in its activities this summer, months before a searing Washington Post expose accusing the nonprofit of mishandling funds, CNN reported on Tuesday evening. There has been no evidence that foreign donors to the foundation obtained favours from the state department while Ms Clinton headed the agency.
Trump, in turn, has criticized Schneiderman personally, calling him "Clockwork Eric". The Washington Post recently reported that the Trump might have also violated IRS rules by spending his nonprofit's money to buy a $20,000 portrait of himself and a $12,000 autographed football helmet.