In March of 2017, a judge approved a $25 million settlement deal between President Trump and students who paid for Trump University real estate seminars. A deal calling for Trump to reimburse students who were defrauded had been reached in November of 2016 but wasn’t officially approved by U.S. District Judge Gonzalo Curiel until last March.
On Monday, Judge Curiel finalized the $25 million settlement after a federal appeals court had rejected a student’s objection to the settlement in February. Sherri B. Simpson thought she could get more money by going to trial, and said that she spent about $20,000 on Trump University classes in 2010.
About Simpson’s objection, Curiel said:
‘That only one procedurally valid objection was filed… is indicative of the fairness, adequacy, and reasonableness of the Settlement.’
In a statement, New York Attorney General Eric Schneiderman said:
‘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.’
Schneiderman went on to say:
‘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.’
‘Trump University was created in 2005, and promised to teach students investing techniques they could use to get rich in real estate — just like Trump.
‘A “one-year apprenticeship” at Trump University cost $1,495, according to court documents, while a “membership” cost at least $10,000 and the “Gold Elite,” the seminar’s most expensive class, cost $35,000.’
Trump claimed that he “hand-picked” the instructors in an advertisement for Trump University, but later could not remember any instructor at all during a deposition. NPR’s Ina Jaffe reported last year:
‘They claim that the promised Donald Trump investment techniques were mostly stuff that you could find on the Internet, some of which was illegal in some of the states where the seminars took place. They say that the promised mentoring was worthless or nonexistent, that the instructors were unqualified and that they were definitely not handpicked by Donald Trump, as he claimed.’
She continued saying:
‘And transcripts of Donald Trump’s deposition … confirm that he was relatively unengaged with what went on in Trump University.’
One Trump University student, 76 year-old Bob Guillo, said:
‘The more and more I got involved in Trump University, the more and more I found out that I had truly been scammed.
‘At first it was embarrassing. Then I became very, very angry that the man that scammed me out of all that money had the audacity to run for president. And I’m still angry.’
We are all angry and outraged that a man such as Trump somehow got to be the leader of this country. He has done way more than scam Trump University students and only time will tell the facts.
Here’s what Twitter had to say:
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