Trump lashes out over foundation shutdown

Trump lashes out over foundation shutdown

Trump lashes out over foundation shutdown

Trump agreed on Tuesday to shut down the charity as the New York State attorney general's office alleges that he used the Trump Foundation illegally to his own personal and political benefit.

The lawsuit, brought against the Trump Foundation in June by the attorney general's office in ny, will continue to seek millions of dollars in restitution even as the president's personal charity agrees to shut down.

Underwood sued the charity in June, alleging the foundation functioned as "little more than a checkbook to serve Mr. Trump's business and political interests".

On Tuesday, Underwood noted that the lawsuit is still going forward but celebrated the decision as "an important victory for the rule of law".

The lawsuit is far from over, though: the NY state Attorney General's office is still seeking almost $4 million in restitution, and to bar Trump's three eldest children Eric, Ivanka, and Don Jr from serving as board members on any charity based in NY. She seeks to prohibit its overseers, President Trump and his adult children, from serving on the board of any nonprofit in NY for the foreseeable future.

The suit named the president, sons Donald Trump Jr. and Eric Trump, and daughter Ivanka Trump, who were on the board of the foundation. The case is one of numerous legal investigations of Trump organizations that have proliferated during his presidency.

The contribution came shortly after NY launched an investigation into Trump University, the controversial Trump real estate training program with significant Florida ties.

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In October 2016 Mr Schneiderman ordered the Trump Foundation to stop fundraising in NY, after finding it had no proper registration.

Alan Futerfas, an attorney for the Trump Foundation, issued a statement criticizing Underwood for "politicizing" the agreement.

The suit claimed that up to $3m in such funds boosted Trump's campaign. They said they had been trying to shut down the foundation voluntarily for months. As part of the agreement, the foundation is being forced to sell off the Tebow-signed Denver Broncos football helmet as well as two paintings of President Trump himself, according to the Washington Post. Underwood accused Trump of using his nonprofit as a personal checking account; the lawsuit is ongoing.

Underwood alleged that Trump used the foundation to help bolster his campaign by giving out big grants of other's people money to veterans' organizations during the run-up to the Iowa caucuses, the first presidential nominating contest of 2016. The family company has said that the charity donated more money than it received - about $19m over roughly 30 years - and should be applauded for incurring virtually no expenses.

In late 2016, Trump said he wanted to dissolve the foundation but was prevented by then-New York Attorney General Eric Schneiderman as the investigation into the charity continued.

In another victory for Underwood, she gets to decide where the remaining money in the foundation goes.

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