Trump charity to dissolve under deal with N.Y. attorney general

[webfact]

Trump charity to dissolve under deal with N.Y. attorney general

By Brendan Pierson

 

FILE PHOTO: U.S. Republican presidential candidate Donald Trump presents a mock check from theTrump Foundation representing $100,000 to members of the Puppy Jake Foundation, which provides military veterans with trained service dogs, in Davenport, Iowa, U.S., January 30, 2016. REUTERS/Rick Wilking/File Photo

 

(Reuters) - U.S. President Donald Trump's namesake charitable foundation has agreed to dissolve under court supervision, partially resolving a New York state lawsuit claiming he misused it to advance his 2016 presidential campaign and his businesses, the state attorney general said on Tuesday.

 

The lawsuit against the Donald J. Trump Foundation also seeks to recoup $2.8 million and ban Trump and his three eldest children from leadership roles in any other New York charity.

 

The agreement, which must be approved by a New York state judge, would give state Attorney General Barbara Underwood the power to vet the charities that receive the foundation's remaining assets.

 

Underwood said in a statement that the foundation had served as "little more than a checkbook to serve Mr.Trump's business and political interests," and called the agreement "an important victory for the rule of law."

 

Alan Futerfas, a lawyer for the Trumps, responded in a statement that the lawsuit had delayed the foundation's plan to dissolve after Trump won the U.S. presidential election in November 2016.

 

He added that over the past decade, the foundation had distributed about $19 million, including $8.25 million ofTrump's personal money, to over 700 charitable organizations.

 

Trump, a Republican, has previously said on Twitter that Underwood's lawsuit was a concoction by "sleazy New York Democrats." In their motion to dismiss the case, the Trumps said it reflected Underwood's "pervasive bias" against them.

 

The new agreement came less than a month after Justice Saliann Scarpulla of the New York State Supreme Court in Manhattan rejected the motion to dismiss.

 

The motion had argued that the U.S. Constitution immunized Trump from Underwood's claims alleging breach of fiduciary duty, improper self-dealing, and misuse of assets belonging to the Foundation.

 

Underwood sued Trump and his adult children Donald Jr., Eric and Ivanka on June 14, after a 21-month probe that she said uncovered "extensive unlawful political coordination" between the foundation and Trump's campaign.

 

Underwood alleged, among other things, that Trump wrongly ceded control to his campaign of about $2.8 million donated to the foundation in a 2016 Iowa fundraiser for military veterans. Other challenged expenses included $100,000 to settle a dispute

involving Trump's Mar-a-Lago resort, and $10,000 for a portrait of Trumpthat was later hung at one of his golf clubs.

 

(Reporting by Brendan Pierson in New York; Editing by Richard Chang)

 

-- © Copyright Reuters 2018-12-19

[mtls2005]

Trump Foundation goes the way of Trump Steaks, Trump University and a dozen other mismanaged, or worse, Trump entities.

 

Why am I not shocked?

[Chomper Higgot]

So the SDNY have all the information they need from the ‘Trump Foundation’.

 

We can now expect to see criminal prosecutions.

 

Illiberals get your denial glasses on, the truth will (despite Individual-1’s best efforts) out!

[Lungstib]

A lack of ethics, integrity and honesty in everything he touches or hangs his name on. Just another example of how the man operates and his disregard for the law.

[keemapoot]

Just one more rock being turned over, and exposing what we all knew was underneath for a long time. This will continue on and on until hopefully there is a satisfactory resolution resulting in either his resignation, impeachment, and complete and utter public humiliation. I'm not hopeful though that his disaffected base will ever accept the truth and that block of people will have to be understood and somehow managed by subsequent leaders.

[GalaxyMan]

I find it disgusting that he's being given a free pass on this. Dissolve the 'charity'? That's it? Where are the indictments for the criminality involved? Pisses me off. President Little Hands Grifter needs to be behind bars with his entire family.

[mtls2005]

10 minutes ago, GalaxyMan said:

I find it disgusting that he's being given a free pass on this. Dissolve the 'charity'? That's it?

 

I'm under the impression (I'm often wrong) that this was a civil suit rather than a criminal one. So the solutions usually involve monetary penalties, and/or agreements to cease the activities which led to the suit.

 

Can criminal charges be filed? Maybe, but that doesn't seem to be in the cards on this one?

[ballpoint]

Yesterday: Trump Steak.

Today: Trump Foundation.

Tomorrow: Trump Presidency.

 

[mtls2005]

53 minutes ago, mtls2005 said:

Can criminal charges be filed? Maybe, but that doesn't seem to be in the cards on this one?

 

NYS AG Underwood may have referred any criminal case(s) to: IRS, FEC, New York State Department of Taxation.

 

I love how the Trump Foundation last held a board meeting (DJTJ, Ivanka, et al.) in 1999! And Allen Weisselberg, the Trump Org. CFO, was listed as being on the Board of this "Charity", without his knowledge.

 

And people actually voted for trump because he was a "good businessman". I actually feel sorry for them, poor saps taken-in by a crappy used-car salesman.

 

https://www.courthousenews.com/wp-content/uploads/2018/12/trump-foundation-dissolution.pdf

 

 

There's a tweet for everything...

 

 

[Tug]

God what a sleaze bag I cannot believe I can feel this way about the president just nasty

Edited December 19, 2018 by Tug

[helpisgood]

So, it's really New York State's attorney general that is actually draining the swamp?

 

Oops, so are other prosecutors as well. 

Edited December 19, 2018 by helpisgood

[joecoolfrog]

By my count Trump is under fire from six seperate enquiries , noose tightening by the day regardless of the nonsense his (dwindling ) band of supporters wheel out to defend him.

Edited December 19, 2018 by joecoolfrog

[Thakkar]

3 hours ago, mtls2005 said:

Trump Foundation goes the way of Trump Steaks, Trump University and a dozen other mismanaged, or worse, Trump entities.

 

Why am I not shocked?

Trump Foundation:

Fined and Forced to shutter under cloud of accusations of illegal self-dealing. Investigations continue. Charges may yet be filed.

 

Trump University:

Forced to settle out of court for bilking students.

 

Trump Casino:

Fined for engaging in money laundering.

 

Trump Lawyer and fixer:

Pled guilty to campaign finance violations and named Trump as co-conspirator. Sentenced to three years in prison.

 

Trump Presidential campaign:

Currently under 17 (!) different investigations and there are already 5 guilty pleas (so far) as well as 4 convictions and sentencings (so far).

 

worst presidential reality show ever.

Edited December 19, 2018 by Thakkar

[samran]

Yeah, but Hillary’s emails....

 

????

[TallGuyJohninBKK]

2 hours ago, GalaxyMan said:

I find it disgusting that he's being given a free pass on this. Dissolve the 'charity'? That's it? Where are the indictments for the criminality involved? Pisses me off. President Little Hands Grifter needs to be behind bars with his entire family.

 

I'm inclined to feel the same way. However, the part that's missing from the OP here is any explanation of what "partially" resolves the case means, as is, what other elements are still alive despite the agreement to dissolve the foundation. Perhaps another news source will have a better explanation of that and just what it may mean in terms of consequences for Trump and Co.

 

 

 

[spidermike007]

UNDER CRIMINAL INVESTIGATION:

???? TRUMP
???? TRUMP Jr.
???? TRUMP Organization
???? TRUMP Foundation
???? TRUMP Campaign
???? TRUMP NatSec Advisory Committee
???? TRUMP Shadow NatSec Advisors
???? TRUMP Transition
???? TRUMP Inaugural Committee
???? TRUMP Administration
???? TRUMP Allies (e.g., MBS, Russia)

 

There is no doubt this was one of the filthiest foundations to ever operate in the US. The paltry amounts of money that they actually donated, is infinitesimally small, compared to what Don was earning. No doubt it was a slush fund, very similar in nature to the Clinton Foundation, which is also very corrupt. Close it down. Lock him up. 

Edited December 19, 2018 by spidermike007

[farcanell]

Sounds like he ran the charity like he ran his failed businesses like he’s running his failing country.

 

Ironically... a great first step on prison reform yesterday.... so.... MAGA.... via locking him up

 

[Pedrogaz]

I wonder what sort of person would donate to a Trump charity? You know what sort of sleazy fellow he is so why donate money for him to misuse or outright steal?

[candide]

So the POTUS is banned from being a board member of any charity organisation in N.Y! ????

[Chomper Higgot]

It’s not just a closure.

 

The courts have seized the assets within the foundation.

 

Court seizes assets of a sitting president.

 

That, for Trump, is going to become a very troublesome snowball.

[attrayant]

11 hours ago, GalaxyMan said:

I find it disgusting that he's being given a free pass on this. Dissolve the 'charity'? That's it? Where are the indictments for the criminality involved? Pisses me off. President Little Hands Grifter needs to be behind bars with his entire family.

 

Investigations and lawsuits are still ongoing even after the "charity" dissolves.  There could still be criminal acts to be discovered, like the $25,000 "donation" to Pam Bondi (Florida AG) campaign, after which (a few days later) the Florida AG dropped their investigation into Trump University.  The foundation also did not report this donation in their legal filings.

[candide]

52 minutes ago, attrayant said:

 

Investigations and lawsuits are still ongoing even after the "charity" dissolves.  There could still be criminal acts to be discovered, like the $25,000 "donation" to Pam Bondi (Florida AG) campaign, after which (a few days later) the Florida AG dropped their investigation into Trump University.  The foundation also did not report this donation in their legal filings.

An AG who does not seem to know anything about conflicts of interests! ????

[Scott]

Off-topic, troll posts removed.  

[Credo]

7 hours ago, Chomper Higgot said:

It’s not just a closure.

 

The courts have seized the assets within the foundation.

 

Court seizes assets of a sitting president.

 

That, for Trump, is going to become a very troublesome snowball.

I remember reading that the Foundation paid for some giant painting of him that was in Mar la Go.   If they confiscate it, I wonder what it's worth...or who would buy it?

 

[Tug]

I know what I would do with the painting lol oh excuse me I need to use the bathroom........

[bkkcanuck8]

9 hours ago, Chomper Higgot said:

It’s not just a closure.

 

The courts have seized the assets within the foundation.

 

Court seizes assets of a sitting president.

 

That, for Trump, is going to become a very troublesome snowball.

The court is not seizing the assets of the President.  They are dissolving the charity under court supervision.  My guess is the Donald Trump will still be able to pick the charities (real charities this time) which will receive the distributed funds.  The assets must be used for charitable purposes.  It sounds as though they also will try to recoup some misappropriated charitable distributions (2.8 million) which will then have to be repaid to the charity. 

 

The complete records of the charity will have to be turned over to be fully audited and any criminal activity found will be passed on to the relevant authorities to deal with.  There will likely be penalties assessed in addition (financial and possible criminal) to the repayment of the misappropriated funds. 

 

Once the funds were paid to the charity, they became the assets of the charity and not of the family.  The family would have received a tax deduction for the donations.

 

This process will likely be ongoing for several years.

[Skeptic7]

Con Man In Chief...Shyster of the USA. 

 

Trump University

Trump Airlines

Trump Vodka

Trump Magazine

Trump Steaks

Trump Mortgage 

Trump Casinos

 

And now the charity scam. 

[mtls2005]

Biggest donation: $264,631 to fix a fountain outside the Trump-owned Plaza Hotel.

 

 

Smallest donation: $7 gift to the Boy Scouts in 1989 (rumored to be DJTJ's annual Boy Scout dues, although I doubt Jr. was in the Boy Scouts).

 

 

Classy.

 

 

6 not-so-charitable things Trump's charity spent money on

 

Many charities that Trump claimed to have donated millions of dollars to said they never received the money, the Post details. So what did the Trump Foundation spend money on? For one, a $12,000 autographed Tim Tebow helmet and jersey, the Post says. Trump bought the memorabilia for himself at a nonprofit event, but apparently sent a check from the Trump Foundation, which gets most of its money from rich donors and not Trump himself.

 

https://theweek.com/speedreads/813387/6-notsocharitable-things-trumps-charity-spent-money

 

[quandow]

On 12/18/2018 at 6:29 PM, joecoolfrog said:

By my count Trump is under fire from six separate inquiries , noose tightening by the day regardless of the nonsense his (dwindling ) band of supporters wheel out to defend him.

Seventeen at this time:

https://www.wired.com/story/mueller-investigation-trump-russia-complete-guide/

[quandow]

59 minutes ago, Skeptic7 said:

Con Man In Chief...Shyster of the USA. 

 

Trump University

Trump Airlines

Trump Vodka

Trump Magazine

Trump Steaks

Trump Mortgage 

Trump Casinos

 

And now the charity scam. 

You forgot the "Trump Presidency" scam.