Excerpt only. The full source text is too long to reproduce here:
PRELIMINARY STATEMENT
For more than a decade, the Donald J. Trump Foundation has operated in persistent violation of state and federal law New York State charities. This pattern of governing illegal conduct the Foundation and its board members includes improper and extensive by political activity, repeated and willful self-dealing transactions, and failure to follow basic obligations or to implement even corporate formalities required law. fiduciary elementary by The Attorney General therefore brings this special proceeding to dissolve the Foundation for its persistently illegal conduct, enjoin its board members from future service as a director of any not-for-profit authorized by New York law, to obtain restitution and penalties, and to direct the Foundation to cooperate with the General in the lawful distribution of its Attorney remaining assets to qualified charitable entities.
In June 2016, the Attorney General began an investigation (the “Investigation”) of “Foundation” the Donald J. Trump Foundation (the “Foundation”) pursuant to the New York Not-for Profit Corporation Law (“N-PCL”), the New York Estates, Powers and Trusts Law (“EPTL”), the New York Executive Law, and other applicable law governing New York State charities. The Investigation found that the Foundation operated without oversight a board of any by functioning directors. Decisions the administration of the charitable assets entrusted to the care concerning of the Foundation were made without adequate consideration or oversight, and resulted in the (” Trump” misuse of charitable assets for the benefit of Donald J. Trump (“Mr. Trump”) and his personal, political and/or business interests. In the Investigation revealed that the Foundation was sum, little more than a checkbook for payments to not-for-profits from Mr. or the Trump Trump Organization. This resulted in multiple violations of state and federal law because payments were made Foundation regardless of the purpose of the payment. Mr. used using money Trump charitable assets to off the legal obligations of entities he to promote pay controlled, Trump hotels, to purchase personal items, and to support his presidential election campaign.
As set forth below, the Foundation and its directors and officers violated multiple sections of the N-PCL, the EPTL, and the Executive Law, including provisions that prohibit selffoundations from making false statements in filings with the Attorney General, engaging in dealing, wasting charitable assets, or violating the Internal Revenue Code by, among other things, making expenditures to influence the outcome of an election. The Foundation’s directors failed to meet basic duties and abdicated all for that the fiduciary responsibility ensuring Foundation’s assets were used in compliance with the law. The violations that resulted were significant and not only ran afoul of the applicable provisions of the N-PCL, the EPTL, and the Executive Law, but also resulted in the Foundation failing to comply with the terms of its own certificate of incorporation.
As a result of these persistent violations of law the the by Respondents, Attomey General brings this special to dissolve the Foundation pursuant to Article 11 of the proceeding N-PCL and New York Civil Practice Law and Rules (“CPLR”) Article 4. In addition, pursuant to the N-PCL, EPTL, Executive Law and CPLR Article 4, the Attorney General seeks an order (i) directing Mr. Trump, Donald J. Trump, Jr., Ivanka Trump, and Eric Trump (together, the Respondents” “Individual to make restitution and all penalties from the breach of Respondents”) pay resulting duties and their misuse of charitable assets for the benefit of Mr. and his fiduciary Trump interests; (ii) enjoining Mr. Trump from future service as an officer, director or trustee, or inany other as a of not-for-profit or charitable organization incorporated or capacity fiduciary any authorized to conduct business in the State of New York, or which solicits charitable donations in the State of New York for a period of ten years, and enjoining the remaining Individual Respondents from future service as an officer, director or trustee, or in any other capacity as a of not-for-profit or charitable organization incorporated or authorized to conduct fiduciary any business in the State of New York, or which solicits charitable donations in the State of New York for a period of one year, subject to suspension in the event the remaining Individual Respondents undergo adequate on the duties of directors of not-for-profit training fiduciary corporations; (iii) directing Mr. Trump to pay an amount up to double the amount of benefits improperly obtained through related party transactions entered into after July 1, 2014; (iv) that the Foundation has conducted its business in a illegal manner and has declaring persistently abused its powers to the public of this state; the Foundation to contrary policy (v) directing cooperate with the Attorney General in the distribution of remaining assets to qualified charities; (vi) restraining the Foundation, except by permission of the court, from exercising any corporate powers; (vii) dissolving the Foundation; and (viii) granting such other and further relief as the Court deem just and proper.