Trump plans to close charitable foundation

U.S President-elect Donald Trump says he intends to dissolve his charitable foundation, the Donald J. Trump Foundation, which is currently under investigation by the New York attorney general.

Trump gave no timeline for winding down the foundation, but said in a statement that he wanted “to avoid even the appearance of any conflict with my role as President.” He takes office on January 20.

New York Attorney General Eric Schneiderman in October directed the foundation to stop taking donations because he said it violated state law requiring charitable organisations to register with a state office.

The order followed a series of reports in The Washington Post that suggested improprieties by the foundation, including using its funds to settle legal disputes involving Trump businesses.

A spokeswoman for the attorney general’s office said on Saturday that Trump cannot shutter the foundation while the investigation is ongoing.

“The Trump Foundation is still under investigation by this office and cannot legally dissolve until that investigation is complete,” spokeswoman Amy Spitalnick said. She would not comment on expected timing for completing the investigation.

Trump said he was “very proud” of the money raised by the foundation and said it had operated at “essentially no cost for decades.”

“But because I will be devoting so much time and energy to the Presidency and solving the many problems facing our country and the world,”

Article source: http://www.sbs.com.au/news/article/2016/12/25/trump-plans-close-charitable-foundation

Useful Links: Swiss Watches | Watch Coupons | Coupons | Alu Foam | Security Rooms | Oldtimer | Bitcoin News

NO COMMENTS