Washington, December 20 (RHC)-- U.S. President Donald Trump’s charitable foundation will be dissolved under court supervision, the result of an agreement reached with New York state’s attorney general, who says the Trump family used the charity as a virtual piggy bank for self-dealing. 

Prosecutors said the Donald J. Trump Foundation gave little or no money to charity and instead served to advance Donald Trump’s business and political ambitions -- including illegal coordination with Trump’s 2016 campaign.  The charity was also used to settle lawsuits against Trump family businesses and even to purchase a $10,000 portrait of Donald Trump hung at one of Trump’s golf resorts. 

Among those who gave money to the Trump Foundation were pro-wrestling moguls Vince and Linda McMahon, who became the charity’s biggest contributor with $5 million in donations.  Trump later named Linda McMahon as head of the Small Business Administration. 

The court settlement includes a 10-year ban on Donald Trump running a nonprofit organization; his three oldest children will each be barred from working for any charity for one year.