Breaking News

Asia Today ISSN 1861-4604 Wednesday, July 18, 2018

Headline

Trump handed a blow before elections, New York Attorney General finds his charitable foundation lacks certification

He has given a total of $5.4 million for Trump Foundation

Share on Facebook October 1, 2016, Reporter : Big News Network, Reader : 650

news

WASHINGTON, U.S. - Donald Trump’s charitable foundation does not possess the certification required to solicit public donations, the New York Attorney General's office has revealed, dealing a blow to the Republican Presidential nominee's philanthropic image in the run up to the elections.> Big News Network

Under the current laws in New York, where the Donald J. Trump Foundation is based, any charity that seeks more than $25,000 a year from the public must obtain a particular type of registration beforehand. Charities as big as that of Trump’s must also undergo a thorough annual audit.     

Tax filings show that in each of the past ten years documented, the Trump Foundation raised more than $25,000 from outsiders. 

If Trump’s foundation is found to have been raising money in violation of the law by New York Attorney General Eric Schneiderman, the charity might have to stop its fund raising immediately. Schneiderman, with a court’s permission, could also force Trump to return money that his foundation has already received.

Schneiderman’s office has not made it clear whether it was investigating the lack of registration for the Trump Foundation. 

The New York Attorney General's office has launched a probe of the foundation in the wake of reports that Trump used the charity’s money to make a political gift, buy paintings of himself and settle legal disputes related to his for-profit businesses.

Legal experts said tax records alone do not reveal whether the donations amounted to solicitations under New York law, but there are strong evidences that they actually did.

The Trump Foundation, where Trump is still the president, was established in 1987 to give away the proceeds of his book 'The Art of the Deal'.

The business mogul was the foundation’s sole donor for many years, giving a total of $5.4 million between 1987 and 2006.

Earlier this year, the Trump Foundation set up a website to collect small-dollar donations for veterans, and it reportedly raised $1.67 million through the website.

Meanwhile, Trump's net worth has fallen by $800 million this year, according to private new calculations. The net worth of the 70-year-old

is presently around $3.7 billion, it showed.

The calculations also revealed that 18 of the 28 assets or asset classes belonging to Trump group declined in value, including his trademark Trump Tower on Manhattan's Fifth Avenue.

More Euro Asia news of the month

Photos ‘Trump’s presidency fueled growth of U.S. hate groups’

WASHINGTON, U.S. - According to an assessment released by the Southern Poverty Law Center, the number of U.S. hate groups expanded last...

Photos Facebook responds to Russia probe: Will verify ad buyers

CALIFORNIA, U.S. - In its response to the intensifying Russia probe being led by Congressional committees and Special Counsel Robert...

Photos Massive 7.2 magnitude quake rocks Mexico, affecting millions

MEXICO CITY, Mexico - A massive 7.2 magnitude earthquake rocked Mexico’s southern Pacific Coast on Friday, leaving millions...

Photos Should Melania ‘leave’ Donald Trump? See what polls say

Washington D.C. [USA], Feb 17 (ANI): Not all seems to be well with the Trumps if US-based poll numbers are to be believed. Over a...

Photos Florida school shooting: Police hunt for bomb, multiple dead

FLORIDA, U.S. - Several casualties have been reported in a shooting incident that rattled a high school in Parkland, Florida, just...

Photos Trump tell-all? President's lawyer confirms paying porn star

WASHINGTON, U.S. - After U.S. President Donald Trump’s lawyer admitted that he paid the adult film star Stormy Daniels $130,000 in...

Photos White House in chaos after FBI shifts blame in Porter case

WASHINGTON, U.S. - Amid a controversy that has engulfed the White House for close to two weeks now, the Federal Bureau of Investigation...

Photos Trump Jnr’s wife hospitalized after opening suspected letter

WASHINGTON, U.S. - Late on Monday, U.S. President Donald Trump’s daughter-in-law and Donald Trump Jnr’s wife Vanessa Trump...

Photos Rachel Brand, third-highest ranking DoJ official steps down

WASHINGTON, U.S. - Another top ranking official at the Justice Department has announced plans to leave the department - at a time of...

Flying Reimagined

Stock Index

Wednesday, July 18, 2018

Life Style

Photo Gallery

FEUILLETON