WASHINGTON - U.S. President-elect Donald Trump said Saturday he plans to dissolve the charitable foundation bearing his name in attempts to avoid a possible conflict of interest.
"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," Trump said in a statement.
"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," he said.
Trump is under pressure to contain his various potential conflicts of interest related to his business and charitable dealings ahead of his inauguration on Jan. 20.
The New York-based foundation, which has been the subject of several controversies and investigations, was originally set up to give away the proceeds from Trump's bestselling book, "The Art of the Deal," according to a TheHill news daily report.
A Washington Post investigation in June found that Trump had personally given his foundation 2.8 million dollars of the book's proceeds over the past 15 years, and nothing since 2009.
The book's co-writer, Tony Schwartz, told CBS News he has received 1.6 million dollars in royalties, per a 50-50 split agreement with the New York real estate developer.

The foundation itself has given more than 13 million dollars to charity since it was founded, but only 4.9 million dollars has come from Trump himself, according to the CBS report. (Xinhua)