Trump University lawsuits settled for $25 million

0
305
Donald Trump holds a media conference to announce the establishment of Trump University in New York City on May 23, 2005 (AFP Photo/Thos Robinson)
US President-elect Donald Trump has agreed to a $25 million settlement in class action lawsuits accusing the now-defunct Trump University of fraud — a deal that will spare him the embarrassment of further legal wrangling as he prepares to enter the White House.
"Today\’s $25 million settlement agreement is a stunning reversal by Donald Trump and a major victory for the over 6,000 victims of his fraudulent university," New York state attorney general Eric Schneiderman said in a statement Friday.
"I am pleased that under the terms of this settlement, every victim will receive restitution and that Donald Trump will pay up to $1 million in penalties to the State of New York for violating state education laws."
A spokesperson for Schneiderman\’s office said the settlement covers all three cases against Trump University: two in California and one in New York.
The agreement came just an hour before a hearing in a San Diego federal court was about to begin to decide on a request by Trump — who is currently holding daily consultations on his new cabinet — to delay the trial.
The six-year-old lawsuit brought by former students alleges that now-defunct Trump University — which was not an accredited college or university — fleeced students by tricking them with aggressive marketing.
Students paid as much as $35,000 to enroll, wrongly believing they would make it big in real estate after being taught by experts hand-picked by Trump, the suit says.
Trump\’s lawyers counter that many students have given the program a thumbs-up and those who failed to succeed have only themselves to blame. The school operated from 2005 to 2011.
In February, Trump tweeted that the program had a 98 percent approval rating: "I could have settled but won\’t out of principal!"
SOURCE: AFP

Leave a reply

WP2Social Auto Publish Powered By : XYZScripts.com

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close