Trump Foundation, NY AG, Reach Deal To Close Foundation

Albany, N.Y. - State Attorney Barabra Underwood says that the President's embattled charitable foundation has agreed to dissolve itself under judicial supervision.

The State AG's office filed a lawsuit against the organization last year.  Around that time The Trump Foundation was trying to dissolve on its own terms.   

The foundation will give away all of its assets to other non-profits in the next 30 days. It will do so under the eye of the court and the attorney general's office to make sure the remaining funds are given to legitimate recipients.

 

The lawsuit will continue in court as it seeks two additional outcomes. Underwood is still seeking $2.8 million in restitution in addition to penalties and a ban on Trump and his three elder children serving on the board of other non-profit organizations in the State. 

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