Trump Foundation agrees to dissolve under judicial supervision



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The dissolution of the Donald J. Trump Foundation solves one of the elements of the lawsuit brought by the Attorney General against the foundation, which includes allegations that the president and his three eldest children – Don Jr., Ivanka and Eric – reportedly violated the campaign- financial laws and abused his tax-exempt status. Rather than exploiting it as a true charity, according to the lawsuit, they instead authorized its use "as a mere checkbook serving Mr. Trump's commercial and political interests".

The dissolution agreement, signed by both the Attorney General of the Foundation and the Attorney General's Office Barbara Underwood, also authorizes the Attorney General's Office to review the beneficiaries of the assets of the charitable. The last tax return from the foundation indicated assets slightly above US $ 1.7 million.

The closure of Trump's nonprofit corporation comes amid an escalating litany of criminal and other investigations involving virtually every aspect of its commercial and political activities. including his presidential campaign, his inauguration committee and his family real estate business.

The lawsuit against the charity is one of two cases in which the president is himself accused of wrongdoing after federal prosecutors had declared in court this month- Trump had ordered his former lawyer, Michael Cohen, to perform or orchestrate payments during the year 2016. Election to silence the women who claimed sex with Trump. . Trump denied these claims.

 Michael Cohen says Donald Trump knew monthly payments were wrong
The [19659003TheagreementtabledonTuesdaywillnotputanendtotheTrumpCharitableFoundation'slawsuitwhichalsotargetstwootheroutcomes:a$28millionrestitutionpluspenaltiesandaabanonTrumpandhischildrenservingontheboardofdirectorsofanyotherNewYorknon-profitorganization19659005] The bureau objected to the organization's previous attempts to dissolve before the filing of the lawsuit in New York, claiming that it could not close its doors for l & # 39; investigation. Tuesday's agreement largely reflects a victory for the Attorney General's office, including the requirement for parties to jointly submit to the court a list of non-profit organizations that will receive the remaining funds from the agency. 39, charity.

Underwood said Tuesday that the agreement "is a key part of the recovery sought in our lawsuit earlier this year."

"This is a major victory for the rule of law, stating that there is a set of rules for everyone," she said in a statement. "We will continue to move our agenda forward to ensure that the Trump Foundation and its trustees shoulder their responsibilities for their clear and repeated violations of federal and state laws."

Alan Futerfas, the association's attorney, called the Attorney General's "misleading" statement, stating that the foundation was seeking to dissolve since Trump's election in 2016. [19659006"UnfortunatelytheNYAGhastriedtopreventthedissolutionfornearlytwoyearsdeprivingthepoorestofnearly$17million"Futerfassaid

He added that the foundation had distributed millions of dollars over the past decade, including "$ 8.25 million of the president's personal money," although the Washington Post and the Others reported that Trump had invested little of his own fortune in the nonprofit after 2006. "The misrepresentation made this morning by the NYAG is a new attempt to politicize this case," said Futerfas.

In response, a spokeswoman for the Attorney General's Office, Amy Spitalnick, said that the charity had attempted to "dissolve without supervision or responsibility."

At a Information meeting at the White House Tuesday, the press officer, Sarah Sanders, declined to comment on the agreement regarding the charity.

The complaint, filed in June, alleges that Trump and his children violated federal and state charity laws "persistent" behavior that included unlawful coordination with Trump's 2016 presidential campaign. [19659006] At the center of the trial is a nationally televised charity. A fundraiser for veterans Trump held in Des Moines, Iowa on January 28, 2016, just before the Republican caucus vote. The foundation received $ 2.8 million as a result of this event. According to the lawsuit in New York, Trump campaign staff then ordered the payment of these funds for the benefit of Trump's political advantage.

The lawsuit also alleges that Trump has exploited his charity for "personal gain", including the use of $ 100,000 for profit. against his seaside resort of Mar-a-Lago in Palm Beach, Florida

The judge supervising the trial must approve the stipulation so that it may come into force. The agreement comes after a decision made in November by Judge Saliann Scarpulla, who had allowed the trial to go ahead, dismissing a motion by the foundation to dismiss the case.

However, Underwood will not supervise the lawsuit. he. The Attorney General's office is expected to change leadership in January. Letitia James will replace Underwood as a senior law enforcement official. James promised to prosecute Trump's and his family's violations of state law, including prosecuting his charity.

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