Trump University Scam $25 Million Settlement Finalized
A federal judge finalized the $25 million settlement between Donald Trump and students of his now shutdown Trump University scam. Victims of Donald Trump’s fraudulent university will finally receive some of their money back. It is about time.
U.S. District Judge Gonzalo Curiel issued the order a year after he first approved the settlement.
New York Attorney General Eric T. Schneiderman released the following statement upon U.S. District Court Judge Gonzalo Curiel’s order finalizing the $25 million Trump University settlement:
“Judge Curiel’s order finalizing the $25 million Trump University settlement means that victims of Donald Trump’s fraudulent university will finally receive the relief they deserve. We are particularly pleased that the final settlement we negotiated with class counsel ensures that members of the class will receive an even higher settlement than anyone originally anticipated.
This settlement marked a stunning reversal by President Trump, who for years refused to compensate the victims of his sham university.
My office won’t hesitate to hold those who commit fraud accountable, no matter how rich or powerful they may be.”
In 2013, Attorney General Schneiderman sued Donald Trump for swindling thousands of Americans out of millions of dollars through Trump University. In late 2016, Attorney General Schneiderman and class counsel announced a $25 million settlement in the Trump University case. – Source ag.ny.gov
How much money will people get, and when?
It will depend on how many class members file claim forms on time. Based on the total amount of Trump University live seminars and mentorships that were purchased in the United States, we currently expect eligible class members will receive 90 percent of their purchase price back, however this amount could increase or decrease as claims are still being reviewed. – Source trumpuniversitylitigation.com
Donald Trump promised Trump University, but delivered neither Donald Trump nor a University.
- Trump was not actively involved in Trump University’s Live Events;
- Trump did not select or interview Trump University’s Live Event instructors or mentors;
- Trump offered no input into the actual instruction provided to Trump University’s students;
- Trump University did not have a faculty of professors and adjunct professors, but rather independent contractors paid commissions for sales;
- Trump University was unaccredited and unlicensed to operate as an institution of higher learning;
- Trump University provided no degrees, no credits, no licenses, nor anything else of marketable value to students.
Donald Trump first lured consumers in with a free 90-minute Live Event called the Preview. The Preview was used to persuade students to purchase the $1,495 “one year apprenticeship” course called the Fulfillment. If students purchased the Fulfillment, Donald Trump used the Live Event to convince them to purchase Trump University’s $35,000 Gold Elite program. Even then, after investing nearly $36,500, students still did not receive Trump’s “secrets” they were promised, but were constantly subjected to upsells of additional Live Events, products and books.
Trump University Scam Conclusion
In my opinion, Trump created a “University” to take advantage of his fame and fortune. He bilked millions from his students in the process. I think he has clearly shown by his actions what it takes to be rich like him.