Ivanka Trump

The fall of the Trump Foundation

Photo: Jabin Botsford/The Washington Post via Getty Images

In a series of Wednesday morning tweets, President Trump blasted a lawsuit from New York Attorney General Barbara Underwood that led to the Trump Foundation's dissolution as a personal attack instead of a credible legal challenge, calling it "a total double standard of 'justice.'"

The big picture: Media reports have alleged that Trump used funds from the now-shuttered foundation to pay for hundreds of thousands of dollars in legal costs among other extravagant personal expenditures. Trump has continuously denied the allegations since they first arose in late 2016, claiming "100% of money goes to wonderful charities."

Trump Foundation to dissolve after lawsuit with New York attorney general

Trump tower
Photo: Spencer Platt/Getty Images.

The Trump Foundation has agreed to dissolve in compliance with a lawsuit from New York Attorney General Barbara Underwood, which alleged that the charity was being used for President Trump's personal and political gain.

The big picture: While the closing of the charity is a victory for the AG's office, the broader lawsuit against the foundation, which seeks $2.8 million in restitution and penalties as well as a ban on Trump's children from serving on the board of other New York charities, will continue.

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