President Donald Trump’s charitable foundation reached a deal Tuesday to go out of business, even as Trump continues to fight allegations he misused its assets to resolve business disputes and boost his run for the White House.
NEW YORK — President Donald Trump’s charitable foundation reached a deal Tuesday to go out of business, even as Trump continues to fight allegations he misused its assets to resolve business disputes and boost his run for the White House.
New York’s attorney general and lawyers for the Trump Foundation agreed on a court-supervised process for shutting down the charity and distributing about $1.7 million in remaining funds to other nonprofit groups.
The agreement resolved one part of the legal drama surrounding Trump, whose campaign, transition, inauguration and real estate empire are all under investigation.
Attorney General Barbara Underwood’s lawsuit alleging Trump and his family illegally operated the foundation as an extension of his businesses and his presidential campaign will continue.
The lawsuit, filed last spring, seeks $2.8 million in restitution and a 10-year ban on Trump and his three eldest children — Donald Jr., Eric and Ivanka — from running any charities in New York.
In a statement Tuesday, Underwood cited „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.
