Trump's inaugural committee under criminal investigation over fund wrongdoing: Report

President Donald Trump's 2017 inaugural committee is being investigated by federal prosecutors in New York over allegations that it misspent funds or accepted donations in exchange for access to his administration, according to a media report.

The inauguration committee had raised a record USD 107 million for expenses for Trump's inauguration and events associated with it.

The Wall Street Journal on Thursday reported that the US Attorney's office in Manhattan is also investigating whether the committee accepted donations from individuals looking to gain influence in or access to the new administration.

"The criminal probe by the Manhattan US attorney's office, which is in its early stages, also is examining whether some of the committee's top donors gave money in exchange for access to the incoming Trump administration, policy concessions or to influence official administration positions, some of the people said, the financial daily reported.

The daily said that "giving money in exchange of political favours could run afoul of federal corruption laws."