>> The US President has agreed to shut down his Donald J Trump Foundation following a lawsuit by New York State's Attorney General, accusing him of illegally using the charity's funds. The lawsuit named Trump and his children, Don Jr., Ivanka, and Eric, who are directors of the foundation. And claimed, quote, Mr. Trump used charitable assets to pay off the legal obligations of entities he controlled to promote Trump hotels, to purchase personal items, and to support his presidential campaign.
Reuters legal correspondent Brendan Pearson.>> The Attorney General's lawsuit alleded that about $2.8 million that were donated in a veteran's charity event to the foundation were misused to advance Trump's presidential campaign.>> Trump tried to fight the lawsuit, arguing the US Constitution made him immune from the charges.
But a judge last month ruled that the suit could go forward. And on Tuesday, New York State attorney general Barbara Underwood said the charity signed an agreement to dissolve. The agreement reached Tuesday requires that the foundation disburse its remaining funds to non-profits under court supervision.>> It resolves the one claim seeking to dissolve the foundation.
But the other parts of the lawsuit seeking money and seeking a bar on the directors serving on nonprofits board, that's still going on.>> It also seeks to ban Trump and his three oldest children from taking leadership roles in any other New York charity.