U.S. President-elect Donald Trump has disclosed plans to dissolve his charitable foundation: “Donald J. Trump Foundation.
The foundation had been under investigation by the Attorney General of New York according to reuters.
However, the incoming President did not specify the time when the foundation would be dissolved but said the decision to dissolve the foundation was to “to avoid even the appearance of any conflict with my role as President.”
He had directed his lawyer to take the necessary step for the dissolution of the foundation.
Trump had been under pressure to take his hands off his business or other involvements that could conflict with his work as President.
Trump had already instructed his son Eric to stop raising funds for the foundation as donors may be seen as buying access into the Trump family.
The president-elect said it was a “ridiculous shame” that his son’s foundation would stop raising money.
Before Trump’s surprising election victory on Nov. 8, New York Attorney General Eric Schneiderman in October directed the Foundation to stop taking donations, saying the foundation violated state law requiring charitable organizations 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.
“The 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.
The President-elect 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.”