“A review of the record, including the factual admissions in the Final Stipulation, establishes that Mr. Trump breached his fiduciary duty to the Foundation and that waste occurred to the Foundation,” wrote Justice Scarpulla in her ruling.
The AG’s office was seeking restitution of $2.8 million plus penalties. Justice Scarpulla reduced the settlement amount after considering the Foundation’s assets ($1.78 million) that will be equally distributed to eight charities. She also decided not impose punitive damages against Mr. Trump took steps to make sure that their alleged illegal conducts will not happen again.
Justice Scarpulla noted, “Mr. Trump’s fiduciary duty breaches included allowing his campaign to orchestrate the Fundraiser, allowing his campaign, instead of the Foundation, to direct distribution of the Funds, and using the Fundraiser and distribution of the Funds to further Mr. Trump’s political campaign.”
Trump will be subject to ongoing supervision by New York State AG’s office
Meanwhile, in response to the court’s ruling, AG Letitia James commented, “The Trump Foundation has shut down, funds that were illegally misused are being restored, the president will be subject to ongoing supervision by my office, and the Trump children had to undergo compulsory training to ensure this type of illegal activity never takes place again.”
