US President-elect, Donald Trump has revealed plans to shut his charitable foundation, although an investigation into its practices continues.
Mr Trump stressed that he wanted to avoid “even the appearance” of any conflict of interest.
New York’s attorney general is looking into suspected “impropriety” at the Foundation, which Mr Trump denies.
The attorney general’s office said Mr Trump could not shut the Foundation while the investigation was continuing.
Mr Trump’s statement on Saturday said that “the foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children.
“However, to avoid even the appearance of any conflict with my role as president I have decided to continue to pursue my strong interest in philanthropy in other ways.”
Mr Trump will be inaugurated on 20 January, succeeding President Barack Obama.
The Republican billionaire beat his Democratic rival Hillary Clinton in the 8 November elections.