Attorney General of New York Barbara Underwood announced on Tuesday that “following a court decision in favor of the Attorney General,” the Trump foundation has agreed “to dissolve under judicial supervision,” while also giving the Attorney General the ability to review and approve “proposed recipient charities of the Foundation’s remaining assets.”
Underwood filed a lawsuit against President Trump and his three oldest children, Ivanka, Donald Jr., and Eric, as the News Blender reported at the time Underwood had asked the court to dissolve the organization for what she deemed, “persistent violation of state and federal law.”
In October as the News Blender reported, Underwood called the foundation, “a shell corporation that functioned as a checkbook from which the business entity known as the Trump Organization made payments- using other people’s money.”
Underwood in her announcement, said that the agreed upon stipulation “accomplishes a key piece of the relief sought in our lawsuit earlier this year. Under the terms, the Trump Foundation can only dissolve under judicial supervision – and it can only distribute its remaining charitable assets to reputable organizations approved by my office.”
In the same statement she also once again pointed out that her petition found a “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. This amounted to the Trump Foundation functioning as little more than a checkbook to serve Mr. Trump’s business and political interests.”
According to Underwood this development does not end the “ongoing,” lawsuit.
Alan Futerfas, a Trump Foundation attorney issued a statement, via The Washington Post, “the Foundation has been seeking to dissolve and distribute its remaining assets to worthwhile charitable causes since Donald J. Trump’s victory in the 2016 Presidential election. “Unfortunately, the NYAG sought to prevent dissolution for almost two years, thereby depriving those most in need” of the foundations remaining monetary assets.
The article also explains that this “case is one of numerous legal investigations of Trump organizations that have proliferated during his presidency.”
For What It’s Worth: Underwood at the time of filing the lawsuit, explained that the filing was a result of a two-year investigation into the Trump Foundation.