Friday, November 18, 2016

Donald Trump Pays Out $25 Million To Settle Trump University Fraud Cases

How much was it worth to Donald Trump to get out of testifying under oath plus not admit guilt in the Trump University lawsuits?

Now we know.

The president-elect who frequently claims he “never settles” lawsuits has agreed to pay $25 million to settle three fraud lawsuits filed against his now discredited Trump University.

The yuuuge settlement marks the end of a six-year legal battle that began when thousands of people across the country alleged that Trump University had defrauded them with false advertising and deceptive business practices.

The settlement covers two class-action lawsuits pending in California, as well as the civil case brought by Eric Schneiderman, New York’s attorney general.

Schneiderman said in a statement Friday...

My office sued Donald Trump for swindling thousands of innocent Americans out of ​millions of dollars through a scheme known at Trump University. Donald Trump fought us every step of the way, filing baseless charges and fruitless appeal​s​ 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.

The Trump University case was heading into its fifth year and up until Friday Trump had seemingly remained defiant, pledging not to settle the lawsuit “out of principle!

He had employed all of the traditional slimy Trump legal strategies such as dragging out lawsuits and burying the complainants in needless motions and paperwork but the prospect of a Nov. 28 jury trial in California appears to have incentivized Trump to settle the cases.

In a statement from the California based lawyers Zeldes Haeggquist & Eck the settlement will pay Trump University students who were part of the class action at least 55 percent of their damages...

With any luck, they’ll have the money they wasted on Trump University (“courses” cost as much as $35,000 per person) back in their wallets by the middle of next year,

Trump University was, in the end, nothing more than a high-pressure sales scam that tried to convince people to sign up for ever more expensive “lessons” and “mentoring,” in hopes that someday, they might become as rich as Trump.

But when the real estate success rate of Trump University’s customers was lightyears from what it had promised and began receiving complaints and demands for refunds Trump's "University" not surprisingly went out of business. That is when the civil fraud investigations and class action lawsuits surfaced and Donald slithered away from another one of his failed ventures accepting no responsibility and leaving those he suckered to pay consequences.

Today Trump paid.

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