TwitterFacebookPinterestGoogle+

Trump ordered to pay $2M for misusing his charitable foundation


A New York judge has ordered Donald Trump to pay $2 million US to settle a lawsuit alleging he misused his charitable foundation to further his political and business interests before he became U.S. president.

Judge Saliann Scarpulla said Trump breached his fiduciary duty to the Trump Foundation by allowing his campaign staff to plan a fundraiser for veterans’ charities in the run-up to the 2016 Iowa caucuses.

The event, which passed money through Trump’s non-profit, was designed “to further Mr. Trump’s political campaign,” Scarpulla said.

In the agreement, Trump admitted to personally misusing Trump Foundation funds and agreed to pay back $11,525 in the organization’s funds he spent on sports memorabilia and Champagne at a charity gala. He also agreed to restrictions on his involvement in other charitable organizations.

New York Attorney General Letitia James said resolution of the case is a “major victory in our efforts to protect charitable assets and hold accountable those who would abuse charities for personal gain.

“No one is above the law — not a businessman, not a candidate for office, and not even the president of the United States,” said James, a Democrat.

Foundation closing $1.7M going to non-profits

Scarpulla also signed off on an agreement Thursday to close the Trump Foundation and distribute about $1.7 million in remaining funds to other non-profit groups.

A request for comment was emailed to Trump’s lawyer.

New York’s attorney general filed a lawsuit last year alleging Trump and his family illegally operated the foundation as an extension of his businesses and his presidential campaign.

It had been seeking about $2.8 million in restitution from the president. Scarpulla cut that amount to $2 million.

Foundation lawyers have previously said the lawsuit is politically motivated.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.