Trump to dissolve his foundation under investigation by New York AG

U.S President-elect Donald Trump said on Saturday he intends to dissolve his charitable foundation, the Donald J. Trump Foundation, which has been under investigation by the New York attorney general.
PHOTO: Reuters

U.S President-elect Donald Trump said on Saturday he intends to dissolve his charitable foundation, the Donald J. Trump Foundation, which has been under investigation by the New York attorney general.

Trump gave no timeline for winding down the foundation, but said in a statement that he wanted "to avoid even the appearance of any conflict with my role as President."

He directed his counsel to take the necessary steps for the dissolution.

Donald Trump wins US presidency in stunning upset

  • Donald Trump has stunned America and the world, riding a wave of populist resentment to defeat Hillary Clinton in the race to become the 45th president of the United States.
  • The Republican mogul defeated his Democratic rival, plunging global markets into turmoil and casting the long-standing global political order, which hinges on Washington's leadership, into doubt.
  • "Now it is time for America to bind the wounds of division," Trump told a crowd of jubilant supporters in the early hours of Wednesday in New York.
  • "I pledge to every citizen of our land that I will be president for all Americans." During a bitter two-year campaign that tugged at America's democratic fabric, the bombastic tycoon pledged to deport illegal immigrants, ban Muslims from the country and tear up free trade deals.
  • His message appears to have been embraced by much of America's white majority, disgruntled by the breath and scope of social change and economic change in the last eight years under their first black president, Barack Obama.
  • Trump openly courted Russian leader Vladimir Putin, called US support for NATO allies in Europe into question and suggested that South Korea and Japan should develop their own nuclear weapons.
  • The businessman turned TV star turned-politico - who has never before held elected office - will become commander-in-chief of the world's sole true superpower on January 20.
  • The results prompted a global market sell-off, with stocks plunging across Asia and Europe and billions being wiped off the value of investments.
  • Although he has no government experience and in recent years has spent as much time running beauty pageants and starring in reality television as he had building his property empire, Trump at 70 will be the oldest man to ever become president.
  • Yet, during his improbable rise, Trump has constantly proved the pundits and received political wisdom wrong.
  • Opposed by the entire senior hierarchy of his own Republican Party, he trounced more than a dozen better-funded and more experienced rivals in the party primary.
  • During the race, he was forced to ride out allegations of sexual assault and was embarrassed but apparently not shamed to have been caught on tape boasting about groping women.
  • And, unique in modern US political history, he refused to release his tax returns.
  • But the biggest upset came on Tuesday, as he swept to victory through a series of hard-fought wins in battleground states from Florida to Ohio.
  • Clinton had been widely assumed to be on course to enter the history books as the first woman to become president in America's 240-year existence.
  • Americans have repudiated her call for unity amid the United States' wide cultural and racial diversity, opting instead for a leader who insisted the country is broken and that "I alone can fix it."
  • If early results hold out, Trump's party will have full control of Congress and he will be able to appoint a ninth Supreme Court justice to a vacant seat on the bench, deciding the balance of the body.
  • So great was the shock that Clinton did not come out to her supporters' poll-watching party to concede defeat, but instead called Trump and sent her campaign chairman to insist in vain the result was too close to call.
  • "I want every person in this hall to know, and I want every person across the country who supported Hillary to know that your voices and your enthusiasm mean so much to her and to him and to all of us. We are so proud of you. And we are so proud of her," chairman John Podesta told shell-shocked supporters.
  • "She's done an amazing job, and she is not done yet," he insisted.
  • Musician Lagy Gaga stages a protest against Republican presidential nominee Donald Trump on a sanitation truck outside Trump Tower in New York City after midnight on election day November 9, 2016.
  • A street performer dressed as the Statue of Liberty hold photos of U.S. presidential candidates Donald Trump and Hillary Clinton at the financial Central district in Hong Kong, China November 9, 2016, after Trump won the presidency.
  • A "Naked Cowboy" performer supporting Donald Trump walks through Times Square in New York, November 9, 2016.
  • People react as they watch news on a screen to follow the results of the final day of the US presidential election at an event organised by the American consulate in Shanghai on November 9, 2016.
  • Protesters against president-elect Donald Trump march peacefully through Oakland, California.
  • A separate group earlier in the night set fire to garbage bins and smashed multiple windows.
  • Police officers chase a group of about 50 protesters.
  • University of California, Davis students protest on campus in Davis, California.
  • An invitee places a cookie depicting U.S. Democratic presidential nominee Hillary Clinton on a table at the US presidential election results watch party at the residence of US Ambassador to Japan, Caroline Kennedy, in Tokyo.

With less than four weeks to his Jan. 20 inauguration, the New York real estate magnate is under increasing pressure to reduce potential conflicts of interest ranging from his vast global business operations to his family's philanthropic work.

This week, Trump said his son Eric would stop raising money for his own foundation over concerns that donors could be seen as buying access to the Trump family.

The president-elect said it was a "ridiculous shame" that his son's foundation would stop raising money.

Take a look inside Donald Trump's US$100m Boeing 757

  • Powerful Rolls Royce engines power the Boeing 757.
  • The plane seats just 43 people but originally could carry over 200.
  • The seat belts are 21-carat gold plated.
  • There is a home cinema on board with a 57-inch screen, library of 1,000 movies and state-of-the-art sound system of a "top Hollywood screening room".
  • The guest room is built from wood which has two settees which convert into a massive bed "for use on extended trips".
  • Trump's own bedroom has "yards and yards of elegant gold silk" .
  • The master bathroom has marble finishes and 24-carat gold taps.
  • The master bathroom has marble finishes and 24-carat gold taps.

Before Trump's surprising election victory on Nov. 8, New York Attorney General Eric Schneiderman in October directed the Donald J. Trump Foundation to stop taking donations, saying the foundation violated state law requiring charitable organisations that solicit outside donations to register with a state office.

Schneiderman's order followed a series of reports in The Washington Post that suggested improprieties by the foundation, including using its funds to settle legal disputes involving Trump businesses.

A spokeswoman for the attorney general's office said on Saturday that Trump cannot shutter the foundation while the investigation is ongoing.

"The Trump Foundation is still under investigation by this office and cannot legally dissolve until that investigation is complete," spokeswoman Amy Spitalnick said. She would not comment on expected timing for completing the investigation.

Melania Trump: Style icon in the making

  • When Mrs Melania Trump appeared at the Republican National Convention in July, Vanity Fair magazine compared her with Kate Middleton, the British royal who is a global style icon.
  • Mrs Trump, 46, was wearing a stunning white dress with puff sleeves that night, hours before her husband Donald Trump claimed the Republican nomination for president.
  • Her outfit by Serbian-born and British-based Roksanda Ilincic quickly sold out after she wore it, a sign that the former model from Slovenia turned First Lady-to-be may well be on her way to becoming a fashion trendsetter.
  • Her choices might also stir some debate, as questions then were asked as to why she did not choose a dress by an American designer.
  • She also aroused talk when she wore a fuchsia pink pussy-bow shirt to the second television presidential debate and a black pussy- bow Ralph Lauren creation to the next one.
  • People thought her picks were intentional, coming just after her husband was revealed to have talked about grabbing women "by the p***y" in a leaked recording from 2005. But a Trump campaign spokesman denied it was intentional.
  • Fast forward to election day last Tuesday. She appeared, displaying a style she has been most noted for - by balancing a long coat on her shoulders that barely covers her white shift dress.
  • The Telegraph's fashion editor Victoria Moss wrote: "Her efforts here are accomplished. On stage in Iowa, after introducing her husband as 'the best master negotiator', she stepped back from the lectern, flicked that perfect blow-dry delicately over her shoulder, and all without her bright red coat budging an inch. That's not just rigid tailoring and a sturdy shoulder-pad; that's professional."
  • Monochrome outfits. Shoulder robing. Pussy bows. All very safe - and boring?
  • Do these form the signature style of the next queen of the White House? Given her fashion background, she will keep everyone watching in the years to come.

Trump said he was "very proud" of the money raised by the foundation and said it had operated at "essentially no cost for decades."

"But because I will be devoting so much time and energy to the Presidency and solving the many problems facing our country and the world," he added in his statement, "I don't want to allow good work to be associated with a possible conflict of interest."

The Trump Foundation, which was established in 1988, runs no programs of its own. Instead, it donates to other nonprofit groups such as the Police Athletic League for youths.

FAMILY FACED CRITICISM

Scrutiny of the Trump family's philanthropic activities heightened in recent weeks following reports of access to the family for potential donors.

Eric Trump faced criticism for an online auction sponsored by his foundation, which raises money to help terminally ill children at St. Jude Children's Research Hospital, offering the highest bidder a chance to have coffee with his sister Ivanka.

Read Also: Passenger removed from flight after confrontation with Ivanka Trump

After the announcement that Eric would not be allowed to raise money for his foundation, Trump tweeted: "He loves these kids, has raised millions of dollars for them, and now must stop. Wrong answer!"

Trump's critics, however, remembered how the president-elect had attacked his Democratic opponent Hillary Clinton and her husband, former President Bill Clinton, over their family foundation.

In August, Trump urged the Justice Department to investigate the Clinton Foundation, which he called a "pay-to-play" operation that rewarded big donors with favors from the State Department while Clinton was secretary of state.

Read Also: Trump International listed as 3rd worst new luxury hotel of 2016: LTI

Eric Trump and his brother Donald Trump Jr. also came under fire this week for their role in a post-inauguration charity event that offered a private reception with their father in exchange for a $1 million donation.

The brothers were listed on a draft invitation as honorary co-chairmen of the fundraiser for conservation charities, dubbed "Opening Day," set to be held in Washington the day after the Jan. 20 inauguration.

On Tuesday, the Trump transition team said Donald Trump Jr. and Eric Trump were not involved with the fundraiser and a subsequent invitation dropped references to donors meeting with any members of the Trump family.

More about

DONALD TRUMP
Purchase this article for republication.

VIDEOS YOU SHOULD WATCH

  • #Joeyjios: We try bubble tea mala hotpot and bubble tea toast

    Full story: http://www.asiaone.com/food/we-try-bubble-tea-mala-hotpot-and-bubble-tea-toast-guess-which-ones-got-us-hooked Mala and bubble milk tea within the same hotpot? What about bubble tea on toast? Who even comes up with these ideas?! This week on #Joeyjios, we give these dubious food creations a taste-test to see if they're worth your time, money and calories. #bubbletea #bbt #boba --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Thirstdays: Where we talk weird dates and wild fantasies

    Full story: https://www.asiaone.com/entertainment/thirstdays-where-we-talk-weird-dates-and-wild-fantasies Ooo, it's been a hot week and the thirst is real at AsiaOne. Join Le En and Bryan as they chat about weird dates, constant 'cravings', and Beyonce's thigh gap! And they are quenching that thirst with a cup of root beer float to celebrate the return of a certain fast food restaurant. Thirstdays is a fortnightly AsiaOne #entertainment series where our hosts Le En and Bryan give you a peek into their personal lives while they satisfy their thirst over a drink, have a no-holds-barred chat, and do fun things. #gossip #confessions #realness --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Don't Say Cannot Ep4: He beats people up, but for the country

    Full story: http://www.asiaone.com/singapore/dont-say-cannot-delinquent-national-wrestler He used to beat people up, simply because he had "too much energy" to expend. Now, he still beats people up - but for the country. Meet 24-year-old #Singapore national wrestler Toh Xin Ran. Seeing the number of medals that he has been awarded and the respectful manner in which he now interacts with his wrestling coach, it is hard to imagine that Xin Ran used to be a troubled kid in his younger days. #wrestling #sportsman --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • #Joeyjios: Taste-testing The Alley Luxe and CHICHA San Chen

    Full story: https://www.asiaone.com/food/alley-luxe-and-chicha-san-chen-opens-week-heres-what-try A Michelin-standard bubble tea for $4.70? A drink that looks like the Northern Lights? This week, #Joeyjios her colleague Le En to check out two new bubble tea (BBT) stores that are opening along Orchard Road. Which will they prefer? Watch to find out. #Thedeerishere #TheAlley #Chichasanchen #Boba --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Office Tea Episode 5: Bosses and Things

    It’s been a few weeks - let’s find out if the higher-ups of AsiaOne have any regrets about hiring Le En. Efforts were made to make nice, charity is involved and work is never-ending still. Follow and subscribe so you won't miss a single episode of our new series, Office Tea! To catch more of her antics, follow her @goofy_feline! --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • #Joeyjios: DIY your way into mum's heart this Mother's Day

    Full story: https://www.asiaone.com/women/joeyjios-diy-your-way-mums-heart-mothers-day Mother’s Day is this Sunday! Have you gotten mum a gift yet? This week on #Joeyjios, Joey tries her hand at DIY projects that’s thoughtful, useful and inexpensive. #Mothersday #DIY --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Don't Say Cannot Ep3: He 'sees' the world with the help of tech

    Full story: https://www.asiaone.com/singapore/dont-say-cannot-he-may-be-blind-he-can-text-faster-you Edwin Khoo, 43, surprises friends with the speed at which he types on his phone. The reason? He's been blind since birth. But #technology has been the game-changer for Edwin in navigating the world around him despite his #disability, allowing him to #travel and even host his own online #podcast. --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Office Tea Episode 4: The Dress Code

    It’s in the employee handbook - but does ANYONE actually read and follow the dress code? Are calves too scandalous? Le En puts on Athleisure and tries to get away with it! Follow and subscribe so you won't miss a single episode of our new series, Office Tea! To catch more of her antics, follow her @goofy_feline! --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Caryn Cheng finds the best deals at IMM's Greater Savings Home and Furnishing Sale

    Full story: https://www.asiaone.com/singapore/5-couples-share-most-expensive-items-they-have-ever-bought-their-home AsiaOne challenges Caryn Cheng to find the best deals at the upcoming #IMM Greater Savings Home and Furnishing #Sale. IMM's Greater Savings Home & Furnishing Sale will start May 13 to 19. With 20 per cent off storewide at Best Denki and discounts of up to 50 per cent at stores such as INKAGU Outlet by Picket & Rail, Linen Gallery Outlet and Red Apple from May 17 to 19, this epic sale is not to be missed. Address: 2 Jurong East Street 21, Singapore 609601 Opening hours: 10am to 10pm #brandedcontent --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • #Joeyjios: I try a ballet-inspired workout despite my two left feet

    Full story: https://www.asiaone.com/singapore/joeyjios-i-try-ballet-inspired-workout-despite-my-two-left-feet Tendu, Arabesque and Grand Pliés? This week on #Joeyjios, I found out that these are in fact, not edible food dishes, but dance moves in ballet.  Watch as former professional ballerinas and co-founders of #BalletBody, Lisha Chin and Alison Carroll, take me through a snippet of their hour-long ballet-inspired workout while I try my best to keep up.  #Ballet #Barre #Fitness --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com

SERVICES