Donald Trump's personal charity had engaged in "persistently illegal conduct," according to prosecutors. The US president is under scrutiny in several state and federal investigations.
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New York Attorney General Barbara Underwood said on Tuesday that the Trump Foundation had agreed to dissolve itself under scrutiny from legal authorities in the US.
Trump's personal charity was accused of engaging in "persistently illegal conduct," according to prosecutors. Underwood said that the foundation functioned as "little more than a checkbook to serve Mr. Trump's business and political interests."
"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," said Underwood.
Key allegations:
Using foundation funds to promote and support presidential campaign, violating tax-exempt charitable status
Using charitable assets to pay off Trump's legal obligations
Using donations to promote Trump businesses, including hotels, and buy personal items
While the Trump Foundation has agreed to dissolve, a judge still needs to approve the deal. However, Underwood is still seeking "millions (of dollars) in restitution and penalties." She also wants to bar "President Trump and his three eldest children from serving on the boards of other New York charities."
"This is an important victory for the rule of law, making clear that there is one set of rules for everyone," Underwood said. "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."
Already a real estate magnate, best-selling author and reality TV star, Donald Trump is about to become the 45th US president. Often regarded as an outlandish, comic figure, Trump will soon move into the White House.
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The family, the empire
Surrounded by the ones he loves, Donald Trump with his wife, Melania, daughters Ivanka and Tiffany, his sons Eric and Donald, Jr., and grandchildren Kai and Donald John III. His three eldest children are senior vice presidents in the Trump organization.
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From millionaire to billionaire
This picture from 1984 shows Trump opening Harrah's at Trump Plaza, a casino in Atlantic City, New Jersey. It's one of the investments that helped turn Trump, already a millionaire thanks to cash from his father, into a billionaire.
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Off to a good start
Trump inherited the money he used to launch his real estate empire from his father, Frederick. He gave his son a million dollars to start and then, upon his death, left Donald and his three siblings $400 million.
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What's in a name? Billions.
Donald Trump aggressively invested the money and experienced the market's highs and lows. Long-term success came thanks to Trump Tower in New York City. Trump has said he's worth some $10 billion, but he has not released financial information to prove the claim. Experts estimate he's worth about a third of that.
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"Very good, very smart"
That's what Trump had to say about himself. He studied at the renowned Wharton School of the University of Pennsylvania and graduated with a bachelor's degree.
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Captain Trump
Before college, Trump was sent to a military academy at the age of 13 to learn discipline. By the time he graduated, he had earned an officer's rank at the academy. During his campaign for president, he said he enjoyed the school's structure and military culture.
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Heel spurs instead of Vietnam
Despite the military education, Trump did not serve in the Vietnam War. He received four deferments while studying and a fifth for bone spurs in his heels. Trump will be the first US president to enter the White House without having previously served in a public office or the military.
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Wife number one: Ivana
In 1977, Trump married Ivana Zelnuickova of what was then Czechoslovakia. The pair had three children together, Donald John, Jr., Ivanka Marie and Eric Fredrick. The marriage, however, was plagued with rumors of extra-marital affairs and ended in 1990. Ivana was the one who created Trump's nickname "The Donald."
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Family number two
Trump later married his second wife, Marla Maples. Maples gave birth to their daughter Tiffany in 1993.
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Girls, girls, girls
Trump seemed to enjoy being photographed with women other than his wife by his side. He often visited beauty pageants and posed with young models. From 1996 to 2015, he owned part of all the Miss Universe pageants. Trump would later come under fire for an audio recording of him saying his fame allowed him to grope women without fearing consequences.
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The Art of the Deal
How do you make a quick million? Trump's best-seller "The Art of the Deal," which was part autobiography, part instruction manual for ambitious businessmen, tried to show readers the way. Already well-known, the book solidified Trump's spot in the public spotlight.
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Mixing business and entertainment
Like no other, Trump knew how to grab the public's attention, as seen here in a show for "World Wrestling Entertainment." His unique blend of business and entertainment acumen met in the reality TV show "The Apprentice" where candidates were hired and fired. Trump's favorite line from the show: "You're fired!"
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Trump's move into politics
Though he had previously had very little contact with governing or politics, Trump announced his presidential candidacy on July 16, 2015. He used "Make America Great Again" as a political slogan and during his election campaign insulted immigrants, Muslims, women and everyone running against him.
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Off to Washington
Whether the showman morphs into a statesman will be seen over Trump's four years in the White House. Views are split as he prepares to take office. But if his life so far is anything to go by, there is no telling what will be next.
