President Donald Trump’s personal charity has agreed to shut down amid an ongoing ethics investigation, the New York attorney general announced on Tuesday.
The agreement follows a court ruling last month that a lawsuit filed against the Donald J. Trump Foundation by Attorney General Barbara Underwood will be allowed to move forward.
“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,” Underwood said in a statement. “This amounted to the Trump Foundation functioning as little more than a checkbook to serve Mr. Trump’s business and political interests.”
As part of the agreement, the Trump Foundation will dissolve under judicial supervision. It will also be required to distribute any remaining charitable assets to reputable organizations approved by Underwood’s office.
Underwood’s lawsuit seeks millions in restitution and penalties. It also seeks to prevent Trump and his three eldest children ― Donald Trump Jr., Ivanka Trump and Eric Trump ― from serving on the boards of other New York charities.
The president vowed shortly after Underwood’s lawsuit was filed to fight the case, calling it the work of “sleazy New York Democrats.”
“I won’t settle this case!” he tweeted.
Members of the Trump family
Members of the Trump family
NEW YORK, NY - MARCH 26: Ivanka Trump and Jared Kushner are seen on March 26, 2016 in New York City. (Photo by Tal Rubin/GC Images)
BRIARCLIFF MANOR, NY - SEPTEMBER 21: Jared Kushner and Ivanka Trump attends the 9th Annual Eric Trump Foundation golf invitational at Trump National Golf Club Westchester on September 21, 2015 in Briarcliff Manor City. (Photo by Bobby Bank/WireImage)
BRIARCLIFF MANOR, NY - SEPTEMBER 21: (L-R) Vanessa Trump, Donald Trump Jr., Ivana Trump, Eric Trump, Lara Trump, Ivanka Trump and Jared Kushner attend the 9th Annual Eric Trump Foundation Golf Invitational Auction & Dinner at Trump National Golf Club Westchester on September 21, 2015 in Briarcliff Manor, New York. (Photo by Grant Lamos IV/Getty Images)
NEW YORK, NY - MAY 04: Jared Kushner and Ivanka Trump attend the 'China: Through The Looking Glass' Costume Institute Benefit Gala at the Metropolitan Museum of Art on May 4, 2015 in New York City. (Photo by Axelle/Bauer-Griffin/FilmMagic)
NEW YORK, NY - JUNE 16: (L-R) Eric Trump, Lara Yunaska Trump, Donald Trump, Barron Trump, Melania Trump, Vanessa Haydon Trump, Kai Madison Trump, Donald Trump Jr., Donald John Trump III, Ivanka Trump, Jared Kushner, and Tiffany Trump pose for photos on stage after Donald Trump announced his candidacy for the U.S. presidency at Trump Tower on June 16, 2015 in New York City. Trump is the 12th Republican who has announced running for the White House. (Photo by Christopher Gregory/Getty Images)
NEW YORK, NY - JUNE 07: Jared Kushner (L) and Ivanka Trump attend the American Theatre Wing's 69th Annual Tony Awards at Radio City Music Hall on June 7, 2015 in New York City. (Photo by Mark Sagliocco/Getty Images)
BEDMINSTER, NJ - OCTOBER, 25: In this handout image provided by Ivanka Trump and Jared Kushner, Ivanka Trump (R) and Jared Kushner (L) attend their wedding at Trump National Golf Club on October 25, 2009 in Bedminster, New Jersey. (Photo Brian Marcus/Fred Marcus Photography via Getty Images)
Donald Trump, president and chief executive of Trump Organization Inc. and 2016 Republican presidential candidate, center, speaks as his sons Donald Trump Jr., left, and Eric Trump, right, listen during a caucus night rally in Las Vegas, Nevada, U.S., on Tuesday, Feb. 23, 2016. Trump's dominating victory in the Nevada caucuses pushes him further out ahead of his nearest competitors for the Republican presidential nomination, giving his unorthodox candidacy a major boost heading into Super Tuesday contests next week. Photographer: David Paul Morris/Bloomberg via Getty Images
20/20 - Donald Trump and his family - including wife Melania Trump and his children - sit down for an interview with ABC News' Barbara Walters in a special edition of 20/20 airing Friday, Nov. 20 (10-11pm, ET) on the ABC Television Network. (Photo by Lorenzo Bevilaqua/ABC via Getty Images) DONALD TRUMP, JR., IVANKA TRUMP, ERIC TRUMP, TIFFANY TRUMP, BARBARA WALTERS
LONDON, ENGLAND - JULY 28: Marla Maples (L) and Tiffany Trump have dinner at Sumosan on July 28, 2014 in London, England. (Photo by David M. Benett/Getty Images)
BRIARCLIFF MANOR, NY - SEPTEMBER 15: (EDITORS NOTE: Retransmission of #455504994 with alternate crop.) (L-R) Donald Trump, Ivana Trump, Eric Trump and Lara Yunaska attend The Eric Trump 8th Annual Golf Tournament at Trump National Golf Club Westchester on September 15, 2014 in Briarcliff Manor, New York. (Photo by Dave Kotinsky/Getty Images)
NEW YORK, NY - APRIL 18: Donald Trump, Eric Trump and Lara Yunaska attend the New York Observer's 2013 Young Philanthropy event at PH-D Rooftop Lounge at Dream Downtown on April 18, 2013 in New York City. (Photo by Laura Cavanaugh/Getty Images)
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