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Trump cant dissolve his foundation during investigation, NY attorney general says
WEST PALM BEACH, Fla. — Donald Trump cannot move ahead with his plan to dismantle his charitable foundation because state prosecutors are probing whether the president-elect personally benefited from its spending, the New York attorney general’s office said Tuesday.
“The Trump foundation is still under investigation by this office and cannot legally dissolve until that investigation is complete,” said Amy Spitalnick, spokeswoman for state Attorney General Eric Schneiderman.
<snip>
Trump’s charity has admitted that it violated IRS regulations barring it from using its money or assets to benefit Trump, his family, his companies or substantial contributors to the foundation.
The admissions by the Donald J. Trump Foundation were in a 2015 tax filing made public after a presidential election in which it was revealed that Trump has used the charity to settle lawsuits, make a $25,000 political contribution and purchase items, such as a painting of himself, that was displayed at one of his properties.
http://www.pbs.org/newshour/rundown/ny-ag-trump-cant-dissolve-foundation-investigation/
“The Trump foundation is still under investigation by this office and cannot legally dissolve until that investigation is complete,” said Amy Spitalnick, spokeswoman for state Attorney General Eric Schneiderman.
<snip>
Trump’s charity has admitted that it violated IRS regulations barring it from using its money or assets to benefit Trump, his family, his companies or substantial contributors to the foundation.
The admissions by the Donald J. Trump Foundation were in a 2015 tax filing made public after a presidential election in which it was revealed that Trump has used the charity to settle lawsuits, make a $25,000 political contribution and purchase items, such as a painting of himself, that was displayed at one of his properties.
http://www.pbs.org/newshour/rundown/ny-ag-trump-cant-dissolve-foundation-investigation/
Did DT think that he could side step the investigation by closing the foundation. I wonder what other violations will turn up due to the investigation.
