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: New York Attorney General Barbara Underwood announces the dissolution of the Trump Foundation after the found a "shocking pattern of illegality" by the charity.
The assets of the Trump Foundation will given to an agreed upon list of charities in the next 30 days. — Tom Winter (@Tom_Winter) December 18, 2018
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."
#BREAKING: We’ve secured a stipulation requiring the Trump Foundation to dissolve under judicial supervision, with our review of recipient charities.
The Foundation functioned as little more than a checkbook to serve Mr. Trump’s interests. Our lawsuit remains ongoing. pic.twitter.com/FsRubdNZs9 — NY AG Underwood (@NewYorkStateAG) December 18, 2018
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