NEW YORK — President Donald Trump’s charity has agreed to shut down as part of lawsuit accusing it of persistent illegal conduct. In an agreement filed Tuesday in state Supreme Court, the Donald J. Trump Foundation agreed to dissolve under court supervision and dole out its remaining assets to other nonprofit organizations to be approved by Attorney General Barabara Underwood.
The deal does not affect the other claims in the attorney general’s lawsuit, which accused the Trump Foundation of what Underwood called “a shocking pattern of illegality,” including self-dealing and using donations for political purposes.
“This is an important victory for the rule of law, making clear that there is one set of rules for everyone,” Underwood said in a statement Tuesday. “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.”
The foundation’s lawyer, Alan Futerfas, was not immediately available to comment.
Under the agreement, which must still be signed by a judge, the Trump Foundation will have 30 days to submit a list of other nonprofits to which its remaining assets will be evenly distributed.
The attorney general can object to a group getting money if information comes to light that “negatively affects the suitability of such organizations” to receive it, the court filing says.
The foundation had more than $1.7 million in assets at the end of last year, according to its most recent tax filing.
Dissolving the Trump Foundation was just one of the steps Underwood asked a judge to take in her June lawsuit. Supreme Court Justice Saliann Scarpulla allowed the suit to move forward in a decision last month.
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The attorney general’s petition also sought $2.8 million in restitution and to bar Trump and his children, Ivanka, Eric and Donald Jr. — who were all named as defendants in the case — from serving as a director of any New York charity.
Trump, a Republican, has attacked the lawsuit as politically motivated. An investigation into the foundation started under former Attorney General Eric Schneiderman, a Democrat who resigned in May amid allegations that he abused four women.
(Lead image: President Donald Trump, left, is seen at the White House on Dec. 15, 2018. Photo by Carolyn Kaster/Associated Press)