The foundation is accused by the attorney general in a lawsuit—and in multiple news stories—of using charity funds to settle private business matters, coordinating between the foundation and Trump’s 2016 presidential campaign, and making an illegal and undisclosed contribution to a political action committee.
“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.
This amounted to the Trump Foundation functioning as little more than a checkbook to serve Mr. Trump’s business and political interests,” Attorney General Barbara Underwood said in a statement. “This is an important victory for the rule of law, making clear that there is one set of rules for everyone.”
In a stipulation signed by foundation attorney Alan Futerfas, the foundation agreed to dissolve and within 30 days submit to the court a list of not-for-profit organizations to receive its remaining assets.
The stipulation follows a decision last month to allow for Underwood’s suit against the Trump Foundation to proceed. The lawsuit seeks $2.8 million in restitution plus penalties, as well as a ban on Trump from future service as a director of a New York not-for-profit for ten years.
It also seeks the same ban for a year for Trump’s children, Donald Jr., Ivanka, and Eric, who all are foundation board members.
read more at Daily Beast