The Trump Foundation Is Shutting Down To Prevent Any Conflicts Of Interest

Adam BaderLast Update : Tuesday 21 November 2017 - 3:40 AM
The Trump Foundation Is Shutting Down To Prevent Any Conflicts Of Interest

<!–[if IE]>http://html5shiv.googlecode.com/svn/trunk/html5.js<![endif]–>The Trump Foundation Is Shutting Down To Prevent Conflicts Of Interest

11.20.17

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The Trump Foundation, Donald Trump‘s charitable organization, has been a source of controversy for the entirety of his political career. While he “hoped” that his foundation was operating legally, there have been persistent questions about its ethics, between “self-dealing” on their IRS forms and potentially violating IRS rules by raising money for the Trump presidential campaign. President Trump tried to shut down the foundation after winning the election but was prevented from doing so by the New York Attorney General’s office due to its ongoing investigation into the ambiguous organization.

According to NBC News, the Trump Foundation is now in the process of shutting down. New documents read “the foundation announced its intent to dissolve and is seeking approval to distribute its remaining funds,” which at the end of 2016 were around $970,000. A statement from a spokesperson for the foundation claimed:

“The Foundation continues to cooperate with the New York Attorney General’s Charities Division, and as previously announced by the President, his advisers are working with the Charities Division to wind up the affairs of the Foundation. The Foundation looks forward to distributing its remaining assets at the earliest possible time to aid numerous worthy charitable organizations.”

However, according to the attorney general’s press secretary, Amy Spitalnick, the process is far from over, saying “as the foundation is still under investigation by this office, it cannot legally dissolve until that investigation is complete.”

Despite the potential conflict of interest, Trump’s business remains intact and in the hands of his sons.

(Via NBC News)

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