President-elect Donald Trump said on Saturday that he plans to dissolve his charitable foundation to avoid "even the appearance" of any conflict of interest.
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“To avoid even the appearance of any conflict with my role as President, I have decided to continue to pursue my strong interest in philanthropy in other ways,” Trump said in a statement emailed by his presidential transition team.
Lawyers are now taking “the necessary steps to effectuate the dissolution,” the statement said.
But that process might not be as straightforward as the president-elect would like it to be.
In a statement shortly after Trump's announcement, New York State Attorney General Press Secretary Amy Spitalnick said that "the Trump Foundation is still under investigation by this office and cannot legally dissolve until that investigation is complete."
In September, the office confirmed that it was investigating the foundation. The probe is said to concern – among other things – a 2013 donation made from the foundation to the fundraising campaign of Florida Attorney General Pam Bondi.
That contribution has drawn concerns of impropriety after Bondi’s office decided not to take legal action against Trump over his now-closed school, Trump University.
Both Trump and Bondi said the contribution had no link to her office's decision.
ABC News’ Aaron Katersky contributed to this report.