Trump Foundation to dissolve under court supervision
The New York state Attorney General’s Office announced Tuesday an accord to dissolve the Donald J. Trump Foundation under judicial supervision against the backdrop of accusations of misconduct.
The office filed suit against the foundation last June, alleging illegal actions dating back more than a decade.
Prosecutors said that the foundation raised more than $2 million for use in the real estate mogul’s 2016 presidential campaign.
Attorney General Barbara Underwood also accused Trump of having used his foundation to pay legal expenses, promote his hotels and other businesses and to acquire personal items.
“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,” the attorney general said in a statement.
The dissolution of the foundation and the distribution of its remaining funds among approved charities settles part of the state’s suit, but the AG Office will continue seeking restitution of $2.8 million and temporary prohibitions on Trump and his three eldest children - Donald Trump Jr., Eric Trump and Ivanka Trump - for serving at boards of other charities in New York.
“This is an important victory for the rule of law, making clear that there is one set of rules for everyone. We’ll continue to move our suit forward to ensure that the Trump Foundation and its directors are held to account for their clear and repeated violations of state and federal law,” Underwood said.