Thread: New York sues to dissolve Trump Foundation, cites illegal conduct

New York sues to dissolve Trump Foundation, cites illegal conduct

Reuters•June 14, 2018

New York sues to dissolve Trump Foundation, cites illegal conduct More

NEW YORK (Reuters) - New York's attorney general on Thursday sued U.S. President Donald Trump and his namesake foundation, saying the nonprofit should be dissolved after more than a decade of illegal conduct, including support for Trump's 2016 U.S. presidential campaign.

Barbara Underwood, the attorney general, accused the Donald J. Trump Foundation and its directors of conducting "extensive unlawful political coordination" with the campaign, and "repeated and willful self-dealing" to benefit Trump's personal and business interests.


"The Trump Foundation was little more than a checkbook for payments from Mr. Trump or his businesses to non-profits, regardless of their purpose of legality," Underwood said in a statement. "That is not how private foundations should function."

The foundation could not immediately be reached for comment.

Trump's children were also named as defendants in the attorney general's petition, filed with the New York State Supreme Court in Manhattan.

New York is also seeking $2.8 million of restitution plus penalties, a 10-year ban on Trump serving as a director of a New York nonprofit, and one-year bans for his children Donald Jr, Eric and Ivanka.

https://www.yahoo.com/news/york-sues...145258425.html

President Trump's charitable foundation is being shut down

Trump Foundation agrees to dissolve under court supervision

By Erica Orden, CNN
Updated 12:00 PM ET, Tue December 18, 2018

(CNN)The Donald J. Trump Foundation has agreed to dissolve under judicial supervision amid an ongoing lawsuit concerning its finances, according to a document filed Tuesday in Manhattan Supreme Court by the New York state Attorney General's office.



READ: Agreement dissolve Trump's charitable foundation


The dissolution of President Donald Trump's charity resolves one element of the attorney general's civil lawsuit against the foundation, which includes claims that the President and his children violated campaign finance laws and abused its tax-exempt status.

The lawsuit will continue in court because it also seeks two other outcomes: $2.8 million in restitution, plus penalties, and a ban on Trump and his three eldest children serving on the board of any other New York nonprofit.

The agreement to dissolve, signed by both the foundation and Attorney General Barbara Underwood's office, also allows the attorney general's office to review the recipients of the charity's assets. The most recent tax return filed by the foundation listed its net assets at slightly more than $1.7 million.

"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," Underwood said in a statement Tuesday.

"This is an important victory for the rule of law, making clear that there is one set of rules for everyone," Underwood said.

"We'll continue to move our suit forward to ensure that the Trump Foundation and its directors are held to account for their clear and repeated violations of state and federal law."

An attorney for the Foundation, Alan Futerfas, declined to comment on the agreement.

The judge overseeing the lawsuit must approve the stipulation in order for it to go into effect and will oversee the dissolution of the foundation. The stipulation comes after a November ruling by Justice Saliann Scarpulla that allowed the lawsuit to move forward, denying a motion by the foundation to dismiss the case.

https://www.cnn.com/2018/12/18/polit...lve/index.html