By AFPMore by this AuthorWASHINGTON, DCPresident Donald Trump will dissolve his charitable foundation — which acknowledged breaking federal rules on "self-dealing" last year — once an investigation concludes, US media reported on Monday. In December, Trump vowed to shutter the organisation to avoid any conflicts of interest, after it was found to have made a political contribution, settled legal conflicts, purchased a large portrait of the president and engaged in other questionable practices. LAWSUITIn a new tax filing, the foundation announced its intent to close down, and is seeking approval to distribute the funds remaining in its coffers, NBC News reported. The Washington Post said one of Trump's golf courses repaid more than $158,000 to the foundation for funds used to settle a lawsuit against the club. In a 2015 tax filing, the foundation acknowledged violating a legal prohibition against a "self-dealing" that bars non-profit leaders from funnelling their charity's money to themselves, their businesses or their families.

Source: Daily Nation November 21, 2017 07:07 UTC