In a defiant statement issued Thursday evening, though, Trump suggested he was neither sorry nor in the wrong.
"Every penny of the $19 million raised by the Trump Foundation went to hundreds of great charitable causes with nearly no expenses", Trump added in his statement.
Trump had previously tweeted that he wouldn't settle the case.
"The New York Attorney General is deliberately mischaracterizing this settlement for political purposes", Trump thundered in a Twitter statement on Thursday, describing the long-running litigation as "4 years of politically motivated harassment".
The president said he would donate the money to Army Emergency Relief, Children's Aid Society, City Meals-on-Wheels, Give an Hour, Martha's Table, the United Negro College Fund, the United Way of the National Capital Area and the United States Holocaust Memorial Museum. Trump was accused of, among other things, using charitable assets to pay for portraits of himself, make political donations, pay for advertisements for Trump Hotels, settle lawsuits involving his business, and improperly intervening in the 2016 election.
He assailed a series of Democratic attorneys general of NY who were involved with the suit, saying they should have spent their time investigating the Clinton Foundation.
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Among them was Housing and Urban Development Secretary Ben Carson, who introduced the president with a fiery speech eviscerating black political leaders who, he said, attempt to shame Trump's black supporters.
Trump held the veterans fundraiser on January 28, 2016, the same night as the Fox News debate among the other Republican presidential candidates. Under the deals, she said, Trump "admits to personally misusing funds at the Trump Foundation". The foundation acted as a pass-through for those contributions.
But the lawyers on both sides, however, came to a "consensual resolution of the bulk of this proceeding" in October, the judge said in her decision, and agreed that the judge would determine the amount of damages Trump would be required to pay.
In one email, a Trump company vice president asked Lewandowski for guidance on precisely how to distribute the money raised.
Two million must be paid by President Trump for his trustee's duty to properly supervise the foundation that bears his name.
Perdue continued: "I believe Democrats have pandered to that community for quite a while - that's my personal opinion - and have failed them, and that's what President Trump's message is, partly, as well".
Scores of protesters also gathered outside the convention center where Trump was speaking, chanting, "Impeach and remove".