President Donald Trump’s charitable foundation, which last year affirmed and admitted violating federal rules on “self-dealing,” is in the process of shuttering itself down.
In a statement received by NBC News, a spokesperson for the Trump Foundation confirmed that it is being shuttered. “The foundation continues to cooperate with the New York Attorney General’s Charities Division, and as previously announced by the President, his advisers are working with the Charities Division to wind up the affairs of the Foundation,” the statement reads.
“The Foundation looks forward to distributing its remaining assets at the earliest possible time to aid numerous worthy charitable organizations,” the statement adds.
From sources, the Trump Foundation transferred “income or assets to a disqualified person.” That disqualified person could be Trump, his family or his businesses, The Postreported.
Last December, Trump pledged he would shut down his foundation to avoid conflicts of interest.
In 2016, his charity violated federal rules on “self-dealing,” in which nonprofit leaders give some of their charity’s money to themselves, their businesses or their families. The foundation stopped attempting to receive donations in October 2016.
By the end of 2016, the Trump Foundation was worth about $970,000,
It is reported, last year, Trump had used the charity for questionable purposes, including to make a political contribution, to settle legal matters involving his for-profit companies and to buy a large portrait of himself that he hung at one of his golf resorts.
Amanda Miller, a spokeswoman for the Trump Organization, said Monday that Trump’s foundation is cooperating with the investigation. During the probe, the foundation cannot raise money or give it away.
A spokesperson for the New York state attorney general’s office that the foundation cannot shut down while it is currently under investigation, which could potentially complicate the dissolution.
New York Attorney General Eric Schneiderman ordered the foundation to stop soliciting contributions in October 2016, and Trump later announced that he intended to dissolve the foundation in order to avoid conflicts of interest.
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