President Trump's charitable foundation is to close amid claims he and his children misused its funds.
The decision to close the charity partly resolves a lawsuit brought by New York state attorney general Barbara Underwood, who claimed it was "little more than a cheque book to serve Mr Trump's business and political interests".
The lawsuit also seeks to recoup $2.8m from the Donald J. Trump Foundation and ban him and his three eldest children from leadership roles in any other New York charity.
The agreement to shut down the charity, which still needs the approval of a judge, will be supervised by Ms Underwood and would give her the power to distribute any remaining money to charities vetted by her.
Ms Underwood sued Mr Trump after a 21-month investigation that she said uncovered "extensive unlawful political coordination" between the foundation and Mr Trump's presidential campaign.
Among the accusations was that control of $2.8m raised by the foundation for military veterans was ceded to his campaign.
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Mr Trump had previously described the Underwood lawsuit as a concoction by "sleazy New York Democrats" and his lawyer, Alan Futerfas, said that over the past decade the foundation had distributed about $19m, including $8.25m of Mr Trump's personal money, to more than 700 charitable organisations.
The application to dismiss the lawsuit said it reflected Ms Underwood's "pervasive bias" against the Trumps.
President Trump's charitable foundation is to close amid claims he and his children misused its funds.
The decision to close the charity partly resolves a lawsuit brought by New York state attorney general Barbara Underwood, who claimed it was "little more than a cheque book to serve Mr Trump's business and political interests".
The lawsuit also seeks to recoup $2.8m from the Donald J. Trump Foundation and ban him and his three eldest children from leadership roles in any other New York charity.
The agreement to shut down the charity, which still needs the approval of a judge, will be supervised by Ms Underwood and would give her the power to distribute any remaining money to charities vetted by her.
Ms Underwood sued Mr Trump after a 21-month investigation that she said uncovered "extensive unlawful political coordination" between the foundation and Mr Trump's presidential campaign.
Among the accusations was that control of $2.8m raised by the foundation for military veterans was ceded to his campaign.
More from US
Mr Trump had previously described the Underwood lawsuit as a concoction by "sleazy New York Democrats" and his lawyer, Alan Futerfas, said that over the past decade the foundation had distributed about $19m, including $8.25m of Mr Trump's personal money, to more than 700 charitable organisations.
The application to dismiss the lawsuit said it reflected Ms Underwood's "pervasive bias" against the Trumps.
