Trump's charitable foundation is being shut down

As previously announced, President Donald Trump's namesake charitable foundation is being shut down.

The foundation issued a filing with the IRS asking for permission to distribute its remaining funds. Trump announced in December he planned to shutter the foundation "to avoid even the appearance of any conflict with my role as president."

Last year, New York Attorney General Eric Schneiderman launched an investigation into the foundation over a donation made to a political fundraising group. He ordered the organization to stop fundraising late last year.

"Our investigation into the Donald J. Trump Foundation remains ongoing. Its fundraising activities remain suspended following the AG’s notice of violation last year. As the foundation is still under investigation by this office, it cannot legally dissolve until that investigation is complete," officials with Schneiderman's office said in a statement yesterday.

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