6/14/2018, 5:13 PM (Source: TeleTrader)
more TeleTrader news

New York AG sues Trump Foundation over 'illegal conduct'

The New York state attorney-general Barbara Underwood announced on Thursday a lawsuit against the Trump Foundation and its directors, United States President Donald Trump, his daughter Ivanka Trump and sons Eric Trump and Donald Trump Jr. The official statement said that the accused broke laws on non-profit and charity organizations through "persistent illegal conduct" for more than 10 years, which benefited Trump's political and business endeavours, including the 2016 presidential campaign. For this purpose, the Attorney General sent letters to the Internal Revenue Service and the Federal Election Commission that include details of the allegations.

"As our investigation reveals, the Trump Foundation was little more than a checkbook for payments from Mr. Trump or his businesses to nonprofits, regardless of their purpose or legality," the attorney general said in the statement.

Underwood announced that she initiated "a special proceeding to dissolve the Trump Foundation under court supervision and obtain restitution of $2.8 million and additional penalties." President Trump would also be banned from running a non-profit organization for 10 years, while for other members of his family involved, the ban would be for one year.

Breaking the News / NI