US President Donald Trump has agreed to shut down his personal charity – Trump Foundation – following allegations that it misused funds for his political and business gains.
New York State Attorney General Barbara Underwood announced on Tuesday that the foundation would be dissolved and its remaining assets distributed to other charities under judicial supervision as it had engaged in a “shocking pattern of illegality.”
Underwood filed a lawsuit against the foundation in June, claiming that Trump had been misusing the charity to promote his business interests and his candidacy during the US 2016 presidential elections.
Underwood argued that the charity “was little more than a checkbook for payments to not-for-profits from Mr. Trump or the Trump Organization.”
“This resulted in multiple violations of state and federal law because payments were made using Foundation money regardless of the purpose of the payment,” she said in the…