Trump Foundation Dissolution
🟡 Fraud & Financial Crime ·
Dec 2018
Summary
The Trump Foundation agreed in November 2018 to dissolve under judicial supervision following a New York Attorney General lawsuit revealing what the AG described as “a pattern of illegality,” including unlawful coordination with Trump’s 2016 campaign, willful self-dealing, and the use of charitable funds as Trump’s personal “piggy bank.” The foundation’s official treasurer, Trump Organization CFO Allen Weisselberg, testified that he was not even aware he was on the board, and the foundation had never held a board meeting since 1999. A New York judge subsequently ordered Trump personally to pay $2 million for misusing foundation funds, including to purchase a portrait of himself and to make a donation to a political committee supporting Florida Attorney General Pam Bondi, who declined to investigate Trump University following the donation.
Key Figures
Donald Trump, Allen Weisselberg, Pam Bondi
Institutions Involved
Trump Foundation, Trump Organization
Sources
- New York Attorney General Petition Against the Trump Foundation
- Trump must pay $2 million for misusing namesake charity - New York judge