New York Attorney General Eric Schneiderman has said over 5,000 students across the country were defrauded out of about $40 million, so Trump‘s settlement of $25 million was around 60 percent of these estimated damages.
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In announcing the settlement, Schneiderman said the deal followed repeated refusals by Trump“to settle for even modest amounts of compensation for the victims of his phony university.”
In a statement, Schneiderman called the settlement a “stunning reversal by Donald Trump and a major victory for the over 6,000 victims of his fraudulent university.”
Students had claimed they were they were lured by false promises into paying up to $35,000 to learn Trump‘s real estate investing secrets from his hand-picked instructors. Trump‘s lawyers denied this.
The deal covers three lawsuits relating to Trump University: two class actions suits in California and a New York case brought by Schneiderman. U.S. District Judge Gonzalo Curiel in San Diego must still approved the settlement.
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