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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.

Details:

  • The dissolution of the foundation comes after The Washington Post reported that its funds were being used to pay off legal settlements for Trump's private businesses, including purchasing art from one of his clubs and making an illegal political donation.
  • Underwood said the investigation found “a shocking pattern of illegality involving the Trump Foundation — including unlawful coordination with the Trump presidential campaign, repeated and willful self-dealing, and much more."
  • What's next: The foundation’s remaining $1.75 million will be distributed to other charities approved by Underwood's office and a state judge.

Flashback: Following his 2016 election win, Trump said he would dissolve the foundation to avoid the appearance of conflict of interest. But the attorney general’s office had stated that doing so would require the state's approval, given its investigation.

Go deeper: The 17 know Trump-related investigations

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: CDC director defends agency's response to pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden readies massive shifts in policy for his first days in office.
  3. Vaccine: Fauci: 100 million doses in 100 days is "absolutely" doable.
  4. Economy: Unemployment filings explode again.
  5. Tech: Kids' screen time sees a big increase.
  6. World: WHO team arrives in China to investigate pandemic origins.
Dave Lawler, author of World
3 hours ago - World

Alexey Navalny detained after landing back in Moscow

Navalny and his wife shortly before he was detained. Photo: Kirill Kudryavtsev/AFP via Getty

Russian opposition leader Alexey Navalny was detained upon his return to Moscow on Sunday, which came five months after he was poisoned with the nerve agent Novichok. He returned despite being warned that he would be arrested.

The latest: Navalny was stopped at a customs checkpoint and led away alone by officers. He appeared to hug his wife goodbye, and his spokesman reports that his lawyer was not allowed to accompany him.

Mike Allen, author of AM
5 hours ago - Politics & Policy

Biden's "overwhelming force" doctrine

President-elect Biden arrives to introduce his science team in Wilmington yesterday. Photo: Kevin Lamarque/Reuters

President-elect Biden has ordered up a shock-and-awe campaign for his first days in office to signal, as dramatically as possible, the radical shift coming to America and global affairs, his advisers tell us. 

The plan, Part 1 ... Biden, as detailed in a "First Ten Days" memo from incoming chief of staff Ron Klain, plans to unleash executive orders, federal powers and speeches to shift to a stark, national plan for "100 million shots" in three months.