Trump Foundation agrees to dissolve amid ongoing lawsuit

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President Donald Trump 

NEW YORK - President Trump's foundation, The Trump Foundation, has agreed to shut down amid an ongoing lawsuit, NBC News reports. 

The lawsuit includes claims Trump and his family violated campaign finance laws and abused its tax-exe,pt status, according to documents filed in Manhattan Supreme Court on Tuesday.

New York attorney general said the lawsuit against the Trump Foundation will still move forward amid the dissolution under judicial supervision and with the oversight of the attorney general's Charities Bureau.

“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."

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