Trump Must Give Up Signed Tim Tebow Helmet in Crooked Charity Settlement
The helmet, in combination with two portraits of Trump shadily bought with money from Trump's foundation, are now valued at around $975.
From left: Justin Lane—EPA / Yuri Gripas—Pool
Back in the early 2010's, Tim Tebow had a ceiling-less potential in the NFL. Sure, that's changed a bit nowadays, with Tebow middling in Double-A baseball with an injury. But back at an auction in January of 2012, who would you expect to land a hot-ticket item like a Broncos helmet autographed by Tebow, as well as a Tebow jersey? Why none other than Donald J. Trump. In fact, the man dropped $12,000 on it.
The only problem, however, as Washington Post reporter David Fahrenthold discovered, was that Trump didn't buy it with his own money. He used his foundation's money—largely made up of donations from other people—to pay for the winning bid. He also used $30,000 from the foundation to buy portraits of himself. In June, New York Attorney General Barbara Underwood sued Trump, the charity and his three eldest children based on the charity's misuse of funds.
In another report from Fahrenthold yesterday, Underwood revealed a partial settlement in the lawsuit which requires Trump to dissolve the foundation, donate whatever money is left, and sell off all remaining assets—which includes the Tebow gear. And apparently, the two portraits and the Tebow helmet are—surprise!—worth a lot less than President Deals paid for them. Per the Post:
The combined current value of the three items, which were purchased with $42,000 of foundation money: $975, according to a recent Internal Revenue Service document filed by Trump.
Despite the limited settlement, the lawsuit remains active as Underwood seeks more than $2.8 million in restitution for conduct the suit described as "persistently illegal."