Trump to pay $25 million settlementBy Rebecca Rakowitz | 11/21/2016 12:11am
President-elect Donald Trump agreed on Friday to pay $25 million to settle lawsuits over Trump University, a for-profit institution with intense sales tactics that allegedly conned students out of thousands of tuition dollars and employed unqualified teachers.
Trump rejected the allegations against Trump University throughout his campaign and often stated that student-written evaluations suggested that they were happy with the school.
During a debate in February, Trump said the lawsuits were something he could have settled many times.
“I could settle it right now for very little money,” Trump said. “But I don’t want to do it out of principle.”
The settlement – which is neither an acknowledgment of fraud nor of liability – means that Trump will not have to take the stand in his defense as president-elect.
“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,” Eric Schneiderman, New York attorney general said in a statement. “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.”