Trump says he will dissolve foundation amid NY investigation

WEST PALM BEACH, Fla. — President-elect Donald Trump said Saturday he will dissolve his charitable foundation amid efforts to eliminate any conflicts of interest before he takes office next month.

The revelation comes as the New York attorney general’s office investigates the foundation following media reports that foundation spending went to benefit Trump’s campaign.

Trump said in a statement that he has directed his counsel to take the necessary steps to implement the dissolution of the Donald J. Trump Foundation, saying that it operated “at essentially no cost for decades, with 100 percent of the money going to charity.”

“The foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children,” he said in a statement.

“I will be devoting so much time and energy to the presidency and solving the many problems facing our country and the world. I don’t want to allow good work to be associated with a possible conflict of interest,” he said.

Trump said he will pursue philanthropic efforts in other ways, but didn’t elaborated on how he’d do so.

The Democratic National Committee criticized Trump for what it called “a wilted fig leaf to cover up his remaining conflicts of interest and his pitiful record of charitable giving.” The statement from party spokesman

Article source: https://www.washingtonpost.com/business/trump-says-he-will-dissolve-foundation-amid-ny-investigation/2016/12/24/18991690-ca36-11e6-acda-59924caa2450_story.html

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