Trump Foundation shutting down to avoid conflicts of interest

Image Donald Trump and Phil Ruffin

Image Donald Trump and Phil Ruffin

President Trump's charitable foundation increased its fund-raising and giving during his campaign past year, even as it became the subject of criticism that prompted a decision to dissolve it, according to paperwork submitted this month to the I.R.S. "However, to avoid even the appearance of any conflict with my role as President I have made a decision to continue to pursue my strong interest in philanthropy in other ways".

New York Attorney General Eric Schneiderman ordered the foundation to stop soliciting contributions in October 2016, and Trump later announced that he meant to dissolve the foundation in order to avoid conflicts of interest, NBC News reported at the time. It received a $1 million donation from Laura Perlmutter, the wife of Marvel Entertainment Chairman Isaac Perlmutter, a prominent Trump supporter, and another from casino magnate Phil Ruffin.

U.S. President Donald Trump and his daughter Ivanka hold a video conference call with Commander Peggy Whitson and Flight Engineer Jack Fischer of NASA on the International Space Station from the Oval Office of the White House in Washington, U.S., April 24, 2017. It did not say when it would close or set a deadline to distribute its assets.

In October 2016, New York's attorney general ordered the foundation to stop soliciting contributions. "As the foundation is still under investigation by this office, it can not legally dissolve until that investigation is complete", said Spitalnick.

The foundation admitted to violating the self-dealing law, in which a nonprofit's leaders, such as Trump or his agents, are prohibited from channeling funds to their businesses, families, or themselves, NBC News said.

All of this makes it sound like President Trump engaged in some questionable business practices, so its a good thing the foundation is dissolved and none of us should ever speak of it again.

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