RadioOnFire.com - Donald Trump folded on his vow not to settle the class-action lawsuits he faced for defrauding students of his defunct Trump University, on Friday, November, 18. While Attorney General Eric Schneiderman wasn't able to land the more than 6,000 people who joined the claim the $40 million he had set out for, the billionaire President-Elect did agree to pay more than half that amount.
"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," Schneiderman said of the settlement.
Those who had enrolled in the so-called university had been in limbo since 2010 when it suddenly shut it's doors without ever making good on the promises it advertised. Students are reported to have paid $35,000 to learn the ins and outs of the real estate business from "hand-picked" instructors. Complaints from students who claimed that all they came away with was a picture beside a cardboard cut out of the business tycoon led to three fraud suits from New York to California. Schneiderman characterized Trump University as a "scheme" that made "false promises to prey on desperate people."
Although the Trump University lawsuits have dragged on since 2013, the case became a full-blown scandal over the course of Trump's campaign for the Presidency. Whenever the suits were brought up by challengers he dismissed them as unfounded. "I will win the Trump University case. I already am, as far as I'm concerned," he said in June. "I could settle that case. I could have settled that case. I just choose not to." Schneiderman says that aside from profiting off of the flaky university, he personally pocketed up to $5 million of the enrollment fees.
Source: bbc.com
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