Trump will dissolve his charity amid lawsuit alleging he used it as his personal 'checkbook'

President Trump's charity is shutting down.

Amid a lawsuit alleging the president used the Trump Foundation for personal and political gain, the charity agreed to "dissolve" and donate its "remaining assets" to approved charities, New York Attorney General Barbara Underwood announced Tuesday. Trump tried to get the state lawsuit thrown out as recently as last month, but a judge ruled it could proceed. The suit effectively claims that "persistently illegal conduct" turned the charity into Trump's personal piggy bank.

Per a document filed in a Manhattan court Tuesday, the Trump Foundation will "dissolve under judicial supervision." The foundation's most recent tax return says it has about $1.7 million in assets, reports CNN. Those funds will go to charities chosen after "review and approval by the attorney general," the release says.

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The lawsuit was filed by Underwood in June, and alleges "a shocking pattern of illegality ... including unlawful coordination with the Trump presidential campaign," per the release. Essentially, Underwood says the Trump Foundation served as Trump's personal "checkbook."

Tuesday's agreement is just one of three "outcomes" the attorney general was hoping for, CNN notes. The lawsuit "also seeks millions in restitution and penalties and a bar on President Trump and his three eldest children from serving on the boards of other New York charities," the attorney general's statement, so it'll continue to be fought in court.