Donald trump announced the closure of its charitable Foundation

The US President-elect Donald trump has announced its intention to eliminate its own charitable Foundation, Trump Foundation to avoid conflicts of interest. This writes The Washington Post, citing a statement by the billionaire.

Trump has not designated a specific deadline for the closure of the Fund but he instructed his lawyer to take all measures to this end.

“The Foundation has done a great job for many years, donating millions of dollars to countless associations, supported veterans, law enforcement officers and children. However, to avoid conflict of interest with my role as President [of the USA], I will continue to do his charity work in other ways”, — said in a statement Trama.

The President-elect reported to the IRS, from 2009 to 2014, it is not funded by the Fund. The largest donors in previous years was Vince and Linda McMahon donated at the Trump Foundation $5 million in 2007-2009, the newspaper specifies. The President suggested that Linda McMahon the position of head of the us small business Administration.

In 2015, the Trump Foundation has admitted violating the rule that non-profit leaders cannot use funds from his own charity to help themselves, their families and their businesses.

The official representative of the trump in early December said that the billionaire was back in June during the election campaign has sold all of its shares in banks, oil giants and other companies. The amount of transactions and end buyers of the stock are unknown, because trump may until may 2018 not to disclose information about their finances.

After the election of President trump began to appear information about the release of billionaire from multiple projects and companies. Last week The Associated Press with reference to the chief legal counsel of the company, Trump Organization said that trump decided to abandon the project for the construction of real estate in Azerbaijan and Georgia. This decision is also linked to concerns about the possible appearance of a conflict of interest.

Trump promised on 15 December to announce his retirement from the business, but two days before he announced the postponement of his speech in January 2017.