Trump Foundation to Dissolve Amid NY Attorney General Lawsuit
WASHINGTON — The Trump Foundation will dissolve amid a lawsuit brought by the New York attorney general over the nature of its spending and contributions.
New York Attorney General Barbara Underwood said the foundation had signed a stipulation agreeing to disband under judicial supervision. She said she will review how remaining assets will be given to charity.
“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,” Underwood said in a statement. “This amounted to the Trump Foundation functioning as little more than a checkbook to serve Mr. Trump’s business and political interests.”
Her lawsuit remains ongoing. It seeks millions in restitution and a prohibition on President Donald Trump and his children from serving on the boards of other charities.
The stipulation was signed by Underwood and Alan Futerfas, attorney for the foundation.
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