The Trump Foundation is closing, but it’s not off the hook

Trump Foundation shutting down amid allegations money used for personal benefit

Trump Foundation signed a stipulation agreeing to dissolve Tuesday, but a lawsuit by the New York Attorney General's Office against the charity continues. The attorney general will review and approve the process, including approving the charities slated to receive the foundation's remaining assets. Underwood's lawsuit against Trump and his three oldest children for violating state charity law will move forward.

New York Attorney General Barbara Underwood, a Democrat, said the Donald J Trump Foundation's assets will be distributed to charities vetted by her office.

The agreement was reached after a NY judge last month rejected arguments from the foundation's lawyers that the lawsuit was politically motivated and should be thrown out. The organization's remaining money will reportedly be given to other charities under judicial supervision. The deal is subject to approval by a NY state judge.

Underwood's office has been investigating the Trump Foundation's extremely shady operations, many of which the Washington Post outlined in a 2016 article.

Trump's foundation in 2013 gave $25,000 to And Justice For All, the political committee for Florida Attorney General Pam Bondi.

Pour one out for the Trump Foundation, President Donald Trump's extremely sketchy "charitable" organization that seemed to be of no real benefit to anyone whose name wasn't actually "Trump".

Underwood has referred her office's findings to the IRS and the Federal Election Commission.

The lawsuit alleged that during the 2016 campaign, Trump received more than $2m at a fundraiser in Iowa and the money went to his foundation.

"Unfortunately, the NYAG sought to prevent dissolution for almost two years, thereby depriving those most in need of nearly $1.7 million", Futerfas' statement continued. Trump used the charity's funds pay off legal settlements for his private business, to purchase art that decorated one of his clubs and to make a prohibited political donation.

And while donors to the Eric Trump Foundation were told their money was going to help sick kids, more than $500,000 was re-donated to other charities, many of which were connected to Trump family members or interests, including at least four groups that subsequently paid to hold golf tournaments at Trump courses. CREW had filed complaints calling for investigations into the foundation. "It apparently operated for the sole goal of benefiting Donald Trump".

In its most recent available filing with the IRS, in 2016 the foundation reported $2,929,274 in revenue and $3,075,269 in expenses. The petition alleges that those funds raised from the public were used to promote Mr Trump's campaign for the presidency, in particular in the Iowa nominating caucuses.

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