Trump to Pay $25 Million to Settle Trump University Fraud Case
President-elect Trump is said to be nearing a settlement of two class-action cases against his now-defunct for-profit online college that could result in him paying up to $25 million.
The incoming Republican president has agreed to pay between $20 to $25 million to settle the complaint against Trump University and will refuse to admit to wrongdoing as part of the settlement, the New York Daily News reported Friday. Former students of the online college alleged that Trump knowingly defrauded them out of tens of thousands of dollars during their enrollment in the online real estate and business program.
Trump’s decision to settle the lawsuit contradicts what he repeatedly told supporters throughout his White House bid.
“It would be easy for me to settle the case. It’s a simple civil case. Probably I should, but I don’t want to because I give them a great soundbite. I don’t settle cases. I don’t get sued because I don’t settle cases. I win in court,” he told MSNBC in March.
Trump reiterated that he had no plans to settle the matter shortly before his election earlier this month. But with his inauguration fast approaching and a trial set to begin next week, it appears the incoming Republican president has changed his mind.
The settlement is reportedly being negotiated by New York State Attorney General Eric Schneiderman and Trump’s lawyers, with a final agreement likely to reached as soon as Friday.
A spokesperson for Schneiderman told the Daily News the state attorney general “has always been open to a settlement that fairly compensates the many victims of Trump University who have been waiting years for a resolution.”
The president-elect has long maintained that Trump University was widely seen as a success among its students, of whom he claims “98 percent” said the courses were terrific, and “had an A rating from the Better Business Bureau.”
