Sarah Palin defends trust fund as legal

ANCHORAGE, Alaska, July 22 (UPI) -- Alaska Gov. Sarah Palin says a trust fund that has come under state scrutiny is perfectly legal and is not under her control.

Palin released a statement calling the Alaska Fund Trust a standard fund, similar to ones used by other politicians, as a repository for private donations to help pay her legal bills and not something she could dip into.

"I am informed that this fund was created by experienced attorneys in D.C. and was modeled after other similar funds established for senators and others," the statement said. "The fund itself was not created by me nor is it controlled by me."

Palin attorney Tom Van Flein told ABC News Wednesday that the fund is controlled by trustee Kristan Cole, a personal friend of the former Republican vice presidential candidate.

The Washington Post had reported that an investigator for Alaska's Personnel Board had concluded in a report this month that Palin likely benefited personally from the fund. Van Flein said disbursements from the fund had been put on hold pending the outcome of the board's inquiry.