Donald Trump’s transitional team has announced that the president-elect intends to dissolve the Trump Foundation that remains under investigation.

In a statement, Donald Trump said the move was aimed at avoiding “even the appearance” of any conflict of interest with his presidency.

Earlier this year, New York’s Attorney General Eric Schneiderman said that he was investigating the Trump Foundation over suspected “impropriety”.

Donald Trump has dismissed the claim.

The president-elect’s statement on December 24 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.

Photo AP

“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.”

Attorney General Eric Schneiderman said in September that his office wanted to ensure the Foundation was “complying with the laws that govern charities in New York”.

“We have been concerned that the Trump Foundation may have engaged in some impropriety from that point of view,” he told CNN at the time.

According to media reports, Eric Schneiderman’s office has been investigating the Trump Foundation since at least June, when it formally questioned a donation made to a group backing Republican Florida Attorney General Pam Bondi in 2013.

The $25,000 payment was made at a time when Pam Bondi’s office was reportedly considering whether to open a fraud investigation into Trump University.

The fraud investigation never happened, although Pam Bondi denies the decision was influenced by the donation she received.

Donald Trump’s aides have already admitted the donation was a mistake resulting from clerical errors, according to reports.