Trump agrees to settle three cases relating to Trump University for $25 million. The cases were brought by former students who paid $35,000 for real estate “secrets” from his “hand-picked” instructors. Trump will not admit any wrongdoing in the settlement. Schneiderman
Today’s $25 million [£20m] settlement agreement is a stunning reversal by Donald Trump and a major victory for the over 6,000 victims of his fraudulent university. The victims of Trump University have waited years for today’s result and I am pleased that their patience – and persistence – will be rewarded by this $25 million settlement.
New York state’s attorney general Schneiderman files a $40 million lawsuit against Trump and his for-profit investment school, accusing them of engaging in illegal business practices. The suit alleges the Trump Entrepreneur Institute – called Trump University until 2010 – operated without an educational license while misleading consumers into paying for courses promising to teach Trump’s real estate investment techniques. More than 5,000 people nationally took the courses, paying $40 million. The lawsuit seeks restitution of at least $40 million, as well as a disgorgement of profits, penalties and an injunction. Schneiderman:
No one, no matter how rich or popular they are, has a right to scam hard-working New Yorkers.