NEW YORK – New York Attorney General Letitia James today announced that the New York Supreme Court ordered Donald J. Trump to pay $2 million in damages for improperly using charitable assets to intervene in the 2016 presidential primaries and further his own political interests. The award is part of Attorney General James’ lawsuit against the Donald J. Trump Foundation and its directors — Mr. Trump, Donald Trump Jr., Ivanka Trump, and Eric Trump.
As part of the settlement, Attorney General James also announced that her office entered into multiple stipulations with the Trump Foundation and its directors to resolve the remaining claims in the lawsuit. Chiefly, Mr. Trump admits to personally misusing funds at the Trump Foundation, and agrees to restrictions on future charitable service and ongoing reporting to the Office of the Attorney General in the event he creates a new charity. The settlements also include mandatory training requirements for Donald Trump Jr., Ivanka Trump, and Eric Trump. Finally, the settlements name the charities that will receive the remaining assets of the Trump Foundation as part of its dissolution.
Last year, in December 2018, following a court decision in favor of the Attorney General’s Office, the first stipulation took effect when the Trump Foundation agreed to shutter its doors and dissolve under court supervision. In October 2019, the Office of the Attorney General entered three additional stipulations. One stipulation ensures that the Foundation’s remaining assets will go to reputable charities approved by Attorney General James and that have no connection to Mr. Trump or his family members. Another stipulation ensures that Donald Trump, Jr., Ivanka Trump, and Eric Trump received training on the duties of officers and directors of charities so that they cannot allow the illegal activity they oversaw at the Trump Foundation to take place again.
The third stipulation includes 19 paragraphs of factual admissions by Mr. Trump and the Foundation of illegal activity. Mr. Trump admitted that the Foundation’s board of directors — of which he was chair — failed to meet, failed to provide oversight over the Foundation, and failed to adopt legally required policies and procedures. He also admitted that these failures “contributed to the Foundation’s participation” in seven related party transactions described in the settlement document and in the Attorney General’s lawsuit.