Trump Foundation agrees to dissolve after suit claimed its assets promoted campaign, business

Trials & Litigation

- Trump Foundation agrees to dissolve after suit claimed its assets promoted campaign, business

President Donald Trump/

The Donald J. Trump Foundation on Tuesday signed a stipulation agreeing to dissolve and disburse its assets to charities approved by the New York attorney general’s office.

A judge will supervise the dissolution, according to the stipulation and a press release by New York Attorney General Barbara Underwood.

Underwood’s office had sought dissolution of the foundation in a suit claiming some of its assets were used to settle legal obligations, advance Trump’s presidential campaign, and promote his hotel and other business interests.

A judge had allowed the suit to proceed in an opinion last month that urged the parties to agree to dissolution.

The suit remains alive. It seeks $2.8 million in restitution, as well as an order barring Trump and his three oldest children from sitting on boards of any New York charities.

Trump initially had blasted the suit as a “ridiculous case” brought by “sleazy New York Democrats.” In her press release, Underwood called the dissolution “an important victory for the rule of law, making clear that there is one set of rules for everyone.”

The Washington Post, CNN and the New York Times have coverage.

Be Sociable, Share!

Follow Us!

Author: Edward Lott

Edward Lott, Ph.D., M.B.A. is president and managing partner of Allentown-based ForLawFirmsOnly Marketing, Inc., a local search and digital marketing agency that offers clients lead generation, local seo and Google Maps Domination. Ed has been a digital entrepreneur since 1994, having discovered very early the opportunities the Internet offered. After having spent over two decades helping attorneys grow their practice, Ed joined the staff of ForLawFirmsOnly Marketing as President and Managing Partner, where he is expanding the agency’s cutting-edge services to the legal market. A true marketing futurist, Ed's vast experience working directly with attorneys has given him a unique perspective on law firm marketing not found in many other digital marketing agencies. Ed has reshaped the offerings of ForLawFirmsOnly to focus on growing law firms through a holistic approach to digital marketing evident in the reformulated lead generation processes now in place. Want to learn more about ForLawFirmsOnly Marketing, their lead generation programs, or just talk to Ed about his visions for helping law firms grow? Call him at 855-943-8736.

Scroll Up