Trump Foundation agrees to shut down

New York Attorney General Barbara Underwood said on Tuesday that the Trump Foundation had agreed to dissolve itself under scrutiny from legal authorities in the US. 

Trump's personal charity was accused of engaging in "persistently illegal conduct," according to prosecutors. Underwood said that the foundation functioned as "little more than a checkbook to serve Mr. Trump's business and political interests."

"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," said Underwood.

Key allegations: 

• Using foundation funds to promote and support presidential campaign, violating tax-exempt charitable status
• Using charitable assets to pay off Trump's legal obligations
• Using donations to promote Trump businesses, including hotels, and buy personal items

'Important victory'

Underwood had filed a lawsuit against Trump and his adult children, including White House adviser Ivanka Trump, following a 21-month probe into the foundation and its activities involving Trump's presidential campaign.

While the Trump Foundation has agreed to dissolve, a judge still needs to approve the deal. However, Underwood is still seeking "millions (of dollars) in restitution and penalties." She also wants to bar "President Trump and his three eldest children from serving on the boards of other New York charities."

"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."

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ls/msh (AFP, AP)