It’s no secret that President Trump has been busy these last couple of weeks attempting to settle some of his many lawsuits against him, including the one regarding his real estate seminar program at Trump University, otherwise known as the Trump Entrepreneur Initiative. Just this week, days before being sworn in as our nation’s next President, he forked over $25 million to settle the Trump University litigation. Currently, the funds are sitting in escrow, awaiting a judge to either approve or disapprove the settlement. In the meantime, a hearing regarding the settlement is scheduled for March 31.
It’s no secret that President Trump has been busy these last couple of weeks attempting to settle some of his many lawsuits against him, including the one regarding his real estate seminar program at Trump University, otherwise known as the Trump Entrepreneur Initiative. Just this week, days before being sworn in as our nation’s next President, he forked over $25 million to settle the Trump University litigation. Currently, the funds are sitting in escrow, awaiting a judge to either approve or disapprove the settlement. In the meantime, a hearing regarding the settlement is scheduled for March 31.
For those who don’t know, the litigation surrounding Trump University first began when “two federal class-action fraud lawsuits and a parallel state court action” were brought forward by Eric Schneiderman, the New York Attorney General. What for? Well, the lawsuits “accused Trump U. of deceiving students by falsely claiming that Trump knew the instructors and that the school was an accredited university.” Instead of being an accredited university, Trump University was a for-profit training program for those interested in learning all of Trump’s “secrets to creating a real estate empire” while charging students up to $35,000 to attend.
Lawyers and representatives of Trump retaliated, claiming that “any misstatements about Trump University amounted to “mere puffery.” Additionally, Trump himself even noted on occasion that many previous attendees were “satisfied with the programs” offered at Trump University, and even claimed that he would never settle. So what changed?
Well, for starters, he became President.
Soon after winning the election last November, President Trump agreed to pay about half of the money that students paid for “seminars or one-on-one mentorship programs.” Responding to questions as to why he decided to settle, Trump said, “I settled the Trump University lawsuit for a small fraction of the potential award because as President I have to focus on our country. The ONLY bad thing about winning the Presidency is that I did not have the time to go through a long but winning trial on Trump U. Too bad!”
But will the settlement be enough for Schneiderman and the students who feel taken advantage of and misled? Well, according to Amy Spitalnick, a spokeswoman for Schneiderman, “the payment of the funds is an important step in getting compensation to those who took part in the Trump U. program.” She went on to add that “the $25 million settlement marks a significant victory for the thousands of fraud victims in New York and across the country, all of whom will receive restitution, in addition to the up to $1 million in penalties Donald Trump will pay to the State of New York for violating education laws.” As an added bonus, a Trump attorney delivered a written pledge from President Trump promising that “none of the funds for the settlement would come from any charitable foundation.”
Unfortunately for our new President, his Trump University litigation isn’t the only legal matter he’s grappling with. Rather, he has “scores of pending cases he or his companies” are set to face in the near future, including “claims of skimming tips at his New York SoHo hotel, demands for refunds of millions in membership fees charged by his country club in Jupiter, Florida, and allegations that his security personnel assaulted protesters outside Trump Tower.” Toss in the legal battles he’s in with a couple celebrity chefs and President Trump is going to be a busy man, leaving many concerned about how he will balance his legal disputes with his presidential duties. I suppose only time will tell.
Sources:
Trump Pays Out $25 Million To Settle Trump University Litigation
Donald Trump Settles Trump University Fraud Lawsuit Before Inauguration
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