President agrees to shut down the Trump Foundation

The New York state attorney general accused the president, family and campaign of using it as a personal slush fund.
2:04 | 12/18/18

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Transcript for President agrees to shut down the Trump Foundation
other major storynvolving president trump tonight is his chitable foundation now agreeing to dissolveall part of an ongoing lawsuit wi new yorstate. The agreement after the sattorney general accused the president and his children of using donations and the foundation ase mor than, quote, a ch here tonight,yra Phillips. Reporter:once cast as a world class charity, but tonight, president trump has reed to sh down thump foundation. E new yorktate attorney general, Barbara Underwood, calling it "Little more than a checkbook to serve trump's Ness and pical interests." Saresident, his family and his campaign basically used the fion as a personal sluund. Spending $30,000 in charity on two portraits of Donald Trump hif. $12,000 for a signed football helmet O former quarterback Tim Tebow. And using fationonlp own ointing tos event in Iowa in 2016. We love our V Reporter: Tru rin in $2.8 million for his foundation. And in an e-mail, H then campaign manage rey lewandski, then asking the foundation to make grants in iowaust days before the caucus any of thes checks. They're all over the place. Reporr: The attney ral also alleging trump used charity money to settle personal ts. When his-a faced a $12000 fine for having too big fl settled the case pledging 00,000 I foundation money to a ra charity. So, let's get back toyra Phillips with us from ington. Asf today's agreement, tmpoundation has forfeit allfts assets? Reporter: Yep, David. The found now needs to give away all itsey toha that theory neral aproves. And amp fouion lawyer saying tot, they alw planned to close down after the election and T a. I St playing politics. David? All right Kyra Phillips with us again tonight. Ank you, Kyra.

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