But nobody’s quite sure if he can do that legally due to corruption investigations related to the already admitted misuse of charity funds. In statements released Christmas Eve in America, the President of the United States (as of 20 January) confirmed that he would close down the Trump foundation. But the move was met with much skepticism considering the founation is under investigation alike much else of Trump ‘s portfolio of businesses.
The investigation stems from the admitting of misuse of charity funds dating back to 2013. The foundation apparently got caught misusing charity funds to benefit officials and their relatives rather than those they were supposed to be helping. Legal experts say that nobody’s certain if he can actually shut it down while there’s an active investigation. Meanwhile business experts say “closing down the charity does nothing for the fact that he’s opened himself to numerous instances of conflict of interest”.
The foundation at te time admitted that they illegally used $30,000 of charity money to commission two portraits of Trump one of which hangs in a Trump owned bar. It remains unclear where the $1.16m in assets the foundation reported in 2015 will actually go. The news comes just two days after Trump claimed Eric Trump had “spent years raising money the right way for children” some of which is apparently not the case.