Trump Foundation to shut down amid allegations president used it to advance 2016 election campaign and businesses
Donald Trump's charitable foundation is set to shut down amid a legal battle with New York's attorney general.
The Donald J Trump Foundation has agreed to dissolve following a lawsuit claiming Mr Trump misused it to advance his 2016 presidential campaign and businesses, attorney general Barbara Underwood said on Tuesday.
The charity's remaining assets will be distributed to other non-profit groups. A judge must still sign off on the agreement.
Mr Trump has previously said on Twitter that Ms Underwood's lawsuit had been devised by "sleazy New York Democrats".
The sleazy New York Democrats, and their now disgraced (and run out of town) A.G. Eric Schneiderman, are doing everything they can to sue me on a foundation that took in $18,800,000 and gave out to charity more money than it took in, $19,200,000. I won’t settle this case!...
— Donald J. Trump (@realDonaldTrump)
Ms Underwood sued him and his children Donald Jr, Eric and Ivanka on June 14, after a 21-month probe that she said uncovered "extensive unlawful political coordination" between the foundation and Mr Trump's campaign. The lawsuit remains pending.
Lawyers for the foundation say any infractions were minor. They say they have been trying to shut down the foundation voluntarily for months.
Ms Underwood is a Democrat and is seeking millions of dollars in penalties. She wants the president and his eldest children barred from running other charities.
The White House and a lawyer for the foundation could not immediately be reached for comment.
Additional reporting by agencies