New York AG says Trump Foundation signed stipulation agreeing to dissolve - InvestingChannel

New York AG says Trump Foundation signed stipulation agreeing to dissolve

New York Attorney General Barbara Underwood announced that the Trump Foundation has signed a stipulation agreeing to dissolve under judicial supervision, with review and approval by the Attorney General of proposed recipient charities of the Foundation’s remaining assets. The stipulation follows the court decision last month allowing Attorney General Underwood’s lawsuit against the Trump Foundation to move forward. Attorney General Underwood’s lawsuit sought the dissolution of the Foundation under judicial supervision and with the oversight of the Attorney General’s Charities Bureau. The lawsuit – which also seeks millions in restitution and penalties and a bar on President Trump and his three eldest children from serving on the boards of other New York charities – remains ongoing, Underwood says in a statement. “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,’ the Attorney General says.