The Trump Foundation, a scrutinized charitable organization founded by President Trump, will dissolve, Attorney General Barbara Underwood announced Tuesday.
According to the attorney general, foundation leaders agreed to dissolve following a court decision last month that allowed a state lawsuit against the foundation to move forward.
The attorney general will oversee the dissolution and approve where remaining assets for the organization will be sent.
The attorney general’s office brought the suit over violations of state and federal law by foundation board members. Among those violations, the attorney general said President Trump had used the foundation to pay off legal debt, to promote his businesses and support his campaign.
The lawsuit against the foundation is ongoing. The attorney general is also calling on the foundation to pay millions in restitution and penalties.
The agreement to dissolve the foundation still needs to be signed off by a judge.
Statement from Underwood:
“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. This amounted to the Trump Foundation functioning as little more than a checkbook to serve Mr. Trump’s business and political interests.
“Today’s 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.
“This is an important victory for the rule of law, making clear that there is one set of rules for everyone. 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.”