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Donald J. Trump Foundation agrees to dissolve in deal with New York attorney general

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Donald J. Trump Foundation agrees to dissolve in deal with New York attorney general



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In a lawsuit filed Thursday, New York’s Attorney General Barbara Underwood said President Donald Trump’s charitable foundation served as a personal piggy bank for his businesses, legal bills and presidential campaign. (June 14)
AP

ALBANY – President Donald Trump’s charity will shut down with its remaining assets distributed to other not-for-profit organizations as part of an agreement filed Tuesday by New York Attorney General Barbara Underwood.

The stipulation between the Donald J. Trump Foundation and Underwood’s office calls for the charity to dissolve under judicial supervision, wiping out its certificate of incorporation and ending its existence.

The agreement was signed Dec. 11 by attorneys for the Trump Foundation and the Attorney General’s Office. It is awaiting a state judge’s approval. 

It comes after Underwood filed a lawsuit against Trump in June, accusing him of illegally using the charity to boost his presidential campaign in 2016.

An attorney for the Trump Foundation could not immediately be reached for comment Tuesday morning. 

Underwood vowed to continue with the lawsuit despite the charity dissolving.

“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,” she said in a statement.

 

 

 

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