November 29, 2016
By New York Attorney General Eric T. Schneiderman
New York, NY – In 2013, my office sued Donald Trump for swindling thousands of innocent Americans out of millions of dollars through a scheme known as 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. Now that all changes. The $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.
I am pleased that under the terms of this settlement, every victim will receive restitution and that Donald Trump will pay up to $1 million in penalties to the State of New York for violating state education laws.
The victims of Trump University have waited years for today’s result and I am pleased that their patience–and persistence–will be rewarded by this $25 million settlement.