NY Attorney General Issues Cease And Desist Order To Trump Foundation
NEW YORK (CBSNewYork/AP) -- New York State Attorney General Eric Schneiderman has ordered Donald Trump's foundation to stop fundraising in the state, saying the charity isn't properly registered.
James Sheehan with the attorney general's office says failure to stop immediately and answer demands for all delinquent financial reports within 15 days "shall be deemed a continuing fraud upon the people of the state of New York.''
Democratic Attorney General Eric Schneiderman has been investigating Republican presidential nominee Donald Trump's foundation following media reports that foundation spending personally benefited the candidate.
Schneiderman's office said the law requires a different registration than the foundation has for those that solicit more than $25,000 a year from the public.
The Trump campaign says the foundation intends to cooperate with the investigation.
The cease and desist order comes a day after a New York Times report that Trump took a more than $900 million loss on his 1995 federal income tax returns that could have allowed him to avoid paying any taxes for as long as 18 years.
The Trump campaign issued a statement about the Times report saying, "Mr. Trump knows the tax code far better than anyone who has ever run for president and he is the only one that knows how to fix it."
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