Report: Trump Foundation admits to 'self-dealing'

Report: Trump Foundation admits to 'self-dealing'
© Getty

The Trump Foundation has reportedly admitted to "self-dealing" and transferring "income or assets to a disqualified person” on the foundation's 2015 tax form, according to The Washington Post.

When asked by the IRS if the charitable foundation engaged in illegal "self-dealing" in recent years or used the foundation funds to assist its leaders and their private businesses, the organization marked "yes" on the tax form.
Self-dealing in a foundation occurs when someone affiliated with the foundation, such as a trustee or attorney, engages in activity that benefits their own interests, rather than the entity's. 
President-elect Donald TrumpDonald John TrumpWarren defends, Buttigieg attacks in debate that shrank the field Five takeaways from the Democratic debate in Ohio Democrats debate in Ohio: Who came out on top? MORE's charitable organization likewise marked "yes" when asked about transferring "income or assets to a disqualified person.”
This could mean the foundation transferred something to the president of the organization, a member of Trump's family or one of his businesses.
According to the Post, the IRS document was posted on a nonprofit site Guidestar, which claims that it was uploaded by Morgan, Lewis and Bockius, the Trump Foundation's law firm. It is unclear from the document if the Trump Foundation actually submitted the form to the IRS or if it has paid the penalties for violating the ban on "self-dealing."
The document also doesn't reveal details about the extent of self-dealing or the identity of a "disqualified person."
According to the report, the New York Attorney General’s office is in the middle of an "ongoing" investigation regarding the Trump Foundation.