This is a developing story. Return to this post for updates.
New York state attorney general accuses the Foundation, its directors and officers of violating laws governing charities.
From the New York Times:
The New York attorney general on Thursday filed suit against President Trump and his three eldest children alleging “persistently illegal conduct” at the president’s personal charity, saying Trump repeatedly misused the nonprofit — to pay off his businesses’ creditors, to decorate one of his golf clubs and to stage a multimillion dollar giveaway at his 2016 campaign events.
In the suit, filed Thursday morning, attorney general Barbara Underwood asked a state judge to dissolve the Donald J. Trump Foundation. She asked that its remaining $1 million in assets be distributed to other charities and that Trump be forced to pay at least $2.8 million in restitution and penalties.
Underwood also asks that Trump be banned from leading any other New York nonprofit for 10 years — seeking to apply a penalty usually reserved for the operators of small-time charity frauds to the president of the United States.
Underwood said she had sent letters to both the IRS and the Federal Election Commission, identifying what she called “possible violations” of tax law and federal campaign law by Trump’s foundation.
Trump has been president of the foundation since he founded it in 1987. In late 2016, he had promised to shut down the Trump Foundation — but could not while the attorney general’s investigation continued.
UPDATE 6Incredible: the Trump Foundation treasurer didn't even know he was treasurer until federal investigators told him. pic.twitter.com/YRcAZbtPNO— Trump Foundation Treasurer (@HashtagGriswold) June 14, 2018
The sleazy New York Democrats, and their now disgraced (and run out of town) A.G. Eric Schneiderman, are doing everything they can to sue me on a foundation that took in $18,800,000 and gave out to charity more money than it took in, $19,200,000. I won’t settle this case!...— Donald J. Trump (@realDonaldTrump) June 14, 2018