November 19, 2016
In what New York’s attorney general called a “stunning reversal,” president-elect Donald Trump agreed Friday to settle fraud cases involving Trump University for $25 million.
The cases involved a lawsuit by New York state and two class actions suits in California against the university, which promised to reveal Trump’s real estate investing “secrets” to people who enrolled in the courses.New York Attorney General Eric Schneiderman, who filed suit against Trump two years ago for what he called “his phony university,” said the president-elect agreed to settle the lawsuits for $25 million and pay an additional $1 million in penalties to the state of New York for violating state education laws. The deal does not require Trump to acknowledge wrongdoing.