Trump Foundation agrees to dissolve amid New York Attorney General lawsuit

The Trump Foundation charity will be closed down after the signing of a stipulation agreeing to dissolve under judicial supervision, amidst allegations of “persistent illegal conduct.” The foundation will disperse its assets to other nonprofit organisations approved by the Attorney General of New York within 30 days.

The agreement was announced on December 18 by Attorney General Barbara Underwood, who stated the stipulation is “an important victory for the rule of law, making clear that there is one set of rules for everyone” in a statement released. “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.”

Alan Futerfas, an attorney for the Trump Foundation, released a statement that said any infractions were minor, and that the foundation had been voluntarily trying to shut down for months. He also stated the Attorney General was trying to politicise the agreement.

The foundation, which was started in 1987 by Donald Trump, wtill faces legal action. It’s directors (Mr. Trump and his 3 eldest children) continue to face a lawsuit filed following a two-year investigation which began under former New York Attorney General Eric Schneiderman. Attorney General Underwood is also continuing to seek more than $US2.8 million in restitution, and has asked that the Trumps are temporarily barred from serving on the boards of any New York not for profit charities. The current lawsuit alleges that the President used the Trump Foundation’s charitable assets to pay off his legal obligations, to promote Trump hotels and other businesses, and  illegally provided extensive support to his 2016 presidential campaign. United States Federal law prohibits using charity money for personal gain.

The ruling came less than a month after Justice Scarpulla of the New York State Supreme Court in Manhattan rejected the President’s motion to dismiss Attorney General’s lawsuit.

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