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Trump settles his university lawsuits for $25M

FILE- In this May 23, 2005 file photo, then real estate mogul and Reality TV star Donald Trump, left, listens as Michael Sexton introduces him at a news conference in New York where he announced the establishment of Trump University. A federal judge in San Diego will consider arguments on President-elect Trump's latest request to delay a civil fraud trial involving his now-defunct Trump University until after his inauguration on Jan. 20, 2017. Trump's attorneys said in a court filing ahead of the hearing, Friday, Nov. 18, 2016, that preparations for the White House were "critical and all-consuming." (AP Photo/Bebeto Matthews, File)

Donald Trump listens as Michael Sexton introduces him at a news conference in New York where he announced the establishment of Trump University in 2005.  (AP File Photo/Bebeto Matthews)

NEW YORK (AP) — New York’s attorney general says President-elect Donald Trump has agreed to a $25 million settlement to resolve three lawsuits over Trump University, his former school for real estate investors.

The deal announced Friday by Attorney General Eric Schneiderman would settle two class-action lawsuits in California and a civil suit filed by Schneiderman.

The suits had alleged that Trump University failed to deliver the quality real estate investing education it promised.

Schneiderman says the $25 million to be paid by Trump or one of his business entities includes restitution for students and $1 million in penalties to the state.

The deal doesn’t require Trump to acknowledge wrongdoing.

Messages left with Trump’s attorneys weren’t immediately returned. Trump has strongly denied the allegations and said during the campaign that he wouldn’t settle.

 

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