Tag: settlement

In a stunning reversal, President-Elect Donald Trump has agreed to pay $25 million to settle longstanding fraud allegations against him and his now-defunct Trump University, according to an announcement from New York State Attorney General Eric Schneiderman late Friday afternoon. Schneiderman’s office sued Trump, Trump University and its former president, Michael Sexton, in 2013, accusing the billionaire of, among other schemes, scamming more than 6,000 victims out of more than $40 million through bogus courses that promised to teach his real estate investing techniques yet never delivered on its stated promises. Two federal class-action lawsuits filed in San Diego made similar claims.