WASHINGTON, D.C. Nov. 18, 2016 (Gephardt Daily) — President-elect Donald Trump has agreed to pay $25 million to settle a series of lawsuits filed against him for allegedly defrauding former students at his controversial Trump University.
News of the settlement was announced Friday afternoon by the state of New York’s attorney general’s office, and comes less than two weeks before the first of two class action lawsuits was to begin in federal court in San Diego.
“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,” wrote New York attorney general Eric T. Schniederman.
“The victims of Trump University have waited years for todays result, and I am pleased that their patience — and persistence — will be rewarded by this $25 million settlement,” Schniederman said.
The lawsuits claimed Trump University students were bilked out of thousands of dollars in tuition through a combination of bogus claims and high-pressure sales tactics.
Trump had repeatedly denied any wrongdoing. During the course of the 2016 presidential campaign, he was roundly criticized when he said presiding U.S. District Judge Gonzalo Curiel had a conflict because of his Mexican heritage. Curiel was actually born in the United States.
Attorney General Scheniederman’s full statement is as follows:
Statement By A.G. Schneiderman On $25 Million Settlement Agreement Reached In Trump University Case
New York Attorney General Eric T. Schneiderman issued the following statement on the $25 million settlement agreement reached in Trump University case:
In 2013, my office sued Donald Trump for swindling thousands of innocent Americans out of millions of dollars through a scheme known as Trump University. Donald Trump fought us every step of the way, filing baseless charges and fruitless appeals and refusing to settle for even modest amounts of compensation for the victims of his phony university. Today, that all changes. 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.
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. 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.