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URGENT - Trump Foundation agrees to dissolve under court supervision

(CNN) -- The Donald J. Trump Foundation has agreed to dissolve under judicial supervision amid an ongoing...

Posted: Dec 18, 2018 3:28 PM
Updated: Dec 18, 2018 3:28 PM

(CNN) -- The Donald J. Trump Foundation has agreed to dissolve under judicial supervision amid an ongoing lawsuit concerning its finances, according to a document filed Tuesday in Manhattan Supreme Court by the New York state Attorney General's office. The dissolution of President Donald Trump's charity resolves one element of the attorney general's civil lawsuit against the foundation, which includes claims that the President and his children violated campaign finance laws and abused its tax-exempt status. The lawsuit will continue in court because it also seeks two other outcomes: $2.8 million in restitution, plus penalties, and a ban on Trump and his three eldest children serving on the board of any other New York nonprofit.

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