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Trump Foundation to shut down under agreement with New York attorney general
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| Contributor | IndyGeorgia |
| Last Edited | IndyGeorgia Dec 18, 2018 07:06pm |
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| Category | News |
| Author | Laura Nahmias |
| News Date | Tuesday, December 18, 2018 04:25:00 PM UTC0:0 |
| Description | President Donald Trump's personal charity will shut down and disperse whatever funds it still has under a new agreement announced Tuesday by New York Attorney General Barbara Underwood.
The attorney general’s office sued the Trump Foundation in June, alleging the president and several of his children used it for their personal and political benefit. That lawsuit, which seeks millions of dollars in restitution, will continue, even as the foundation agrees to cease existence.
The agreement, which still must be approved by a judge, requires the Trump Foundation to submit a list of not-for-profit groups that will receive distributions from the remaining assets.
Underwood alleged in her lawsuit that Trump’s charity was, for years, “little more than an empty shell” with no oversight by a functioning board of directors, and she pointed out that the nonprofit had not had a board meeting since 1999. |
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