Donald Trump's charitable foundation is set to shut down amid a legal battle with New York's attorney general.
The Donald J Trump Foundation has agreed to dissolve following a lawsuit claiming Mr Trump misused it to advance his 2016 presidential campaign and businesses, attorney general Barbara Underwood said on Tuesday.
The charity's remaining assets will be distributed to other non-profit groups. A judge must still sign off on the agreement.
Mr Trump has previously said on Twitter that Ms Underwood's lawsuit had been devised by "sleazy New York Democrats".
Ms Underwood sued him and his children Donald Jr, Eric and Ivanka on June 14, after a 21-month probe that she said uncovered "extensive unlawful political coordination" between the foundation and Mr Trump's campaign. The lawsuit remains pending.
Lawyers for the foundation say any infractions were minor. They say they have been trying to shut down the foundation voluntarily for months.
Ms Underwood is a Democrat and is seeking millions of dollars in penalties. She wants the president and his eldest children barred from running other charities.
The White House and a lawyer for the foundation could not immediately be reached for comment.
Additional reporting by agencies
