President Donald Trump has agreed to shut down his personal charity as he battles allegations that he and his family used it for personal benefit, Attorney General Barbara Underwood announced on Tuesday.
A lawsuit against the foundation will move forward, Underwood said.
The Donald J. Trump Foundation will be dissolved, and its remaining funds will be given away, Underwood announced on Tuesday, as she continues pursuing a lawsuit against the charity, the president and his children.
"We’ve secured a stipulation requiring the Trump Foundation to dissolve under judicial supervision, with our review of recipient charities,” Underwood posted on Twitter. “The Foundation functioned as little more than a checkbook to serve Mr. Trump’s interests. Our lawsuit remains ongoing.
“Our petition detailed a shocking pattern of illegality involving the Trump Foundation – including unlawful coordination with the Trump presidential campaign, repeated and willful self-dealing, and much more. This amounted to the Trump Foundation functioning as little more than a checkbook to serve Mr. Trump’s business and political interests,” Underwood stated.
Underwood’s lawsuit, which was filed over the summer, alleged “persistently illegal conduct” and sought to have the foundation shutter its doors.
According to Underwood, her lawsuit “ought the dissolution of the Foundation under judicial supervision and with the oversight of the Attorney General's Charities Bureau. The lawsuit – which also seeks millions in restitution and penalties and a bar on President Trump and his three eldest children from serving on the boards of other New York charities – remains ongoing.”
“Today’s stipulation accomplishes a key piece of the relief sought in our lawsuit earlier this year. Under the terms, the Foundation can only distribute its remaining charitable assets to reputable organizations that we have approved,” she noted.
“This is an important victory for the rule of law. There is one set of rules for everyone,” she said. “We’ll continue to move our suit forward to ensure that the Trump Foundation and its directors are held accountable for their clear and repeated violations of state and federal law.”
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