Trump Foundation To Dissolve As Lawsuit From New York Attorney General Continues

19 December, 2018, 01:49 | Author: Gregory Stephens
  • Trump Foundation agrees to dissolve as New York state accuses family of running slush fund

The New York Attorney General's Office has announced that they've received a signed stipulation authorizing the dissolution of President Donald Trump's personal charity.

The foundation will give away its assets to other nonprofit organizations throughout the next 30 days.

Although Trump attempted to close the charity in late 2016, the State of NY prevented him from doing so in order to continue its investigation into whether it had broken the law.

Underwood's lawsuit is a stark reminder of how flagrantly illicit the Trump Foundation has been.

In addition to shutting down the charity, Underwood is also seeking more than $2.8 million in restitution and has asked a judge to ban the Trump family temporarily from serving on the boards of other NY charities and nonprofit organizations.

This is an important victory for the rule of law.

The new agreement came less than a month after Justice Saliann Scarpulla of the New York State Supreme Court in Manhattan rejected the motion to dismiss.

The Trump Foundation could not be immediately reached for comment.

Alan Futerfas, an attorney for the Trump Foundation, said that the charity had been seeking to dissolve and distribute its assets to other causes since the 2016 presidential election and blamed Underwood's office for delaying the dissolution, "hereby depriving those most in need of almost $1.7 million".

He added that over the past decade, the foundation had distributed about $19 million, including $8.25 million of Trump's personal money, to over 700 charitable organizations.

US President Donald Trump has agreed to dismantle his family's charitable Trump Foundation amid serious allegations it's only really been charitable to those with the last name "Trump". Trump had boycotted a Republican presidential debate and held what he described as a fundraiser for veterans instead.

The suit also alleges that the foundation made payments to other charitable organizations for the goal of settling lawsuits against Trump's Mar-A-Logo resort and The Trump National Golf Club.

Citizens For Responsibility and Ethics in Washington Executive Director Noah Bookbinder said, "It is good to see this fraud is finally over". Speaking of spinoff investigations, do you know who the largest singles donors were to the Foundation?

According to the Form 990 filed by the Trump Foundation in 2007, the WWE (World Wrestling Entertainment) gave 114 times as much to the foundation as Trump did himself.

Underwood sued the foundation in June, saying it repeatedly solicited money from donors and then used it for campaign-related purposes, violating federal election law.

There are far smaller donations, like a $7 gift to the Boy Scouts in 1989.



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