Trump Foundation Agrees To Dissolve Itself Under Judicial Supervision

President Donald Trump's charitable organization has agreed to dissolve itself in an agreement with the New York Attorney General's Office. The decision comes following a lawsuit filed in June by New York Attorney General Barbara Underwood which accused Trump and his three eldest children of using the Trump Foundation as "a checkbook to serve Mr. Trump’s business and political interests.”

Under the agreement, the foundation will give its money to charitable organizations that are approved by the Attorney General's Office. 

“Today’s stipulation accomplishes a key piece of the relief sought in our lawsuit earlier this year,” Underwood said in a statement. “Under the terms, the Trump Foundation can only dissolve under judicial supervision – and it can only distribute its remaining charitable assets to reputable organizations approved by my office.”

The agreement does not end the lawsuit, which is still seeking $2.8 million in restitution plus penalties, and prevents Trump and his children from serving on the board of any New York-based non-profit organization. 

"This is an important victory for the rule of law, making clear that there is one set of rules for everyone," Underwood said. "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."

Photo: Getty Images


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