FBI agents and New York police officers raided fashion designer Peter Nygard’s New York office on Tuesday amid allegations of sex trafficking in a lawsuit against the designer.

Ten women have filed a civil suit against Nygard alleging that he sexually assaulted them, in some cases when they were minors, and accusing him of sex trafficking through his Bahamas compound after allegedly luring them there for parties.

Ken Frydman, a spokesman for Nygard, said search warrants were executed in both New York and California, CNN reported.

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"Nygard welcomes the federal investigation and expects his name to be cleared," Frydman said, according to the network. "He has not been charged, is not in custody and is cooperating with the investigation."

Frydman later said Nygard will step down as chairman of his clothing brand, Nygard International, and divest his ownership interest in the company. A spokesperson also told CNN the lawsuit was “expected” and intended to damage Nygard’s reputation.

"Given Mr. Nygard's pattern of alleged horrific sexual abuse spanning decades and across the world, it is not surprising that he now finds himself under the scrutiny of the FBI," attorneys Greg Gutzler and Lisa Haba, who are representing the magnate’s accusers, said in a joint statement.

"Our focus remains squarely on pursuing justice for the countless victims who have been so viciously harmed by Mr. Nygard and his enablers,” they added.

Department store chain Dillard’s has said it is canceling orders and suspending all future purchases from the company in light of the raids and the “serious allegations.”