In the settlement Trump made 19 admissions, including that his campaign controlled a January 2016 Iowa fundraiser for veterans held by the foundation, and that the foundation paid $10,000 for a portrait of him. A judge ordered him to pay $2 million, which, with the foundation’s remaining assets, went to eight charities. [1][2]

The foundation dissolved. Trump agreed to restrictions if he ever runs a charity again, and his children took mandatory training. That is a set of conditions, not a lifetime ban. [2][3]