Donald Trump settles Trump University lawsuits

Donald Trump has agreed to pay $25 million to settle three lawsuits against Trump University.
The deal will keep the president-elect from having to testify in a trial in San Diego that was set to begin November 28.
The settlement ends a suit brought by New York Attorney General Eric Schneiderman, as well as two class action suits in California.
About 6,000 former students are covered by the settlement. The victims will receive at least half of their money back, said plaintiff attorney Jason Forge at a court hearing Friday.

About $21 million will go to settle the class-action suits and $4 million will cover the victims of the suit brought by Schneiderman, Forge said. The attorneys waived all fees.
"We are pleased to announce the complete resolution of all litigation involving Trump University," a Trump Organization spokesperson said.
"While we have no doubt that Trump University would have prevailed at trial based on the merits of this case, resolution of these matters allows President-Elect Trump to devote his full attention to the important issues facing our great nation."

Trump did not acknowledge any liability in the settlement.
Related: Trump University's 'top' instructor's job was to sell, not teach
Trump University is the defunct, for-profit real estate seminar business Trump created in 2005. It promised to teach students investing techniques they could use to get rich on real estate, just like Trump.
It advertised that instructors were hand-picked by the mogul himself, but former students claimed that wasn't true. In fact, Trump has suggested under oath that he was not very involved in hiring instructors, despite what the promotional materials suggested.

Some students ended up paying tens of thousands of dollars. While the initial Trump University seminar was free, teachers would then upsell them for another program. A "one year apprenticeship," which was effectively a three-day seminar, cost $1,495, according to court documents. A "mentorship" cost at least $10,000 and the most expensive, the Gold Elite program, cost $35,000.
The settlement is a complete turnaround from Trump's earlier position on the lawsuits.

"This is a case I could have settled very easily, but I don't settle cases very easily when I'm right," he said in March.
But since Trump was elected, U.S. District Judge Gonzalo Curiel urged the parties to settle the case to avoid the immense complications of a president-elect facing trial while preparing to take office.
Last week, one of Trump's attorneys indicated that he might change his position on settling.

Schneiderman said Friday that he was pleased with the terms of the settlement. He first filed the suit in 2013.
"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," he said in a statement.



http://money.cnn.com/2016/11/18/news/trump-university-settlement/index.html

Telstar wrote:"While we have no doubt that Trump University would have prevailed at trial based on the merits of this case..."

HA.  Now that's the crock of the century!  Such empty bluster doesn't fool anyone with half a brain.  They would've been far better off just keeping their lying, cheating mouths shut.

It is a constant that scumbags migrate to real estate education. It was the truth a hundred years ago, and it is the truth today.

2seaoat wrote:It is a constant that scumbags migrate to real estate education.  It was the truth a hundred years ago, and it is the truth today.

Excuse me? Not everyone in real estate is a scumbag. You learn to recognize the ones you can't trust. For me, it was a natural step after several years in construction and development...and a scholarship to real estate school, plus a week off with pay to attend.

Wordslinger wrote:We need to hear from our resident fascist-racist real estate pro on this one.  Tell us Markle, why is it so many thieving, lying sonofabitches choose real estate as a career?

Have you ever met an honest real estate salesperson?  I haven't, but I'm only eighty years old and bought my first house 54 years ago.  Markle, since you're an expert in this field, tell us, how does one find an honest real estate salesperson?

Ahhh...life is good. Few things are more pleasant than basking in the warm glow radiating from the hate and vitriol of a Progressive and even better from a Socialist/Communist! Keep up the good work!

Like stock brokers and travel agents, it is a profession which is doomed in the future when more sophisticated internet programs make the sale of real estate as simple as shopping Amazon, and showing up at closing with a lawyer. We are not even using real estate professionals on our rental units to market the same as most people look at craigslist first, and after the horrible tenants we have had through rental real estate professionals, we have found we can do a much better job. We get the tenants in ourselves and then hand off the routine to our management company after six months.

Many management rental folks are trying to farm buyers from tenants and they screw owners royally. We have found that when we take control from a crooked system, we actually get great tenants who we could care less if they are going to buy a home in the future. Smelly industry throughout history, so it was no surprise that President Trump got involved.

2seaoat wrote:Like stock brokers and travel agents, it is a profession which is doomed in the future when more sophisticated internet programs make the sale of real estate as simple as shopping Amazon, and showing up at closing with a lawyer.  We are not even using real estate professionals on our rental units to market the same as most people look at craigslist first, and after the horrible tenants we have had through rental real estate professionals, we have found we can do a much better job.  We get the tenants in ourselves and then hand off the routine to our management company after six months.

Many management rental folks are trying to farm buyers from tenants and they screw owners royally.   We have found that when we take control from a crooked system, we actually get great tenants who we could care less if they are going to buy a home in the future.  Smelly industry throughout history, so it was no surprise that President Trump got involved.

You were saying that about real estate way back when I joined the Pensacola Newspaper forum. Wasn't true then and isn't today, nor will it be anytime in the near future.

Back in late 80's real estate professionals were forecasting the end of the listing agent because owners could get all previous sale information from the Internet and then just put their own house/whatever on a website. Didn't turn out that way. As anyone here knows, there is too MUCH information available and much of it is unreliable. They need a listing agent to sort through all the weeds.

Sure, some people do fine as FSBO, have done it before and have the time. When I started to retire, eighty percent of the folks who tried FSBO ended up using the services of a REALTOR in on way or another.

You know this as I myself have told you at least a dozen times, real estate is unique in nature. Two houses, side by side, same builder same age, the same floor plan can and do sell for tens of thousands of dollars different.

With your example of stock brokers and travel agents, it is a constant price. Constant product.

You enjoy puttering around and liked the part-time job of property management. I did not. I turned my rental properties over to a property manager. I was happy to pay the 10%, I knew I could make more money spending my time elsewhere, listing and selling real estate, teaching in the evenings, doing my seminars, teaching for FAR and NAR around Florida and the country.

I'm very proud of my profession and my fellow competitors. Why you and Wordslinger choose to denigrate myself and my profession, only God knows. But, whatever floats your boat.

I'm very proud of my profession and my fellow competitors. Why you and Wordslinger choose to denigrate myself and my profession, only God knows. But, whatever floats your boat.



Terrible conflicts of interest. I believe commercial real estate brokers are very necessary. I believe residential only requires a lawyer, a good lender, and a database with excellent information. Most residential is fungible and like buying something off Amazon. Also, the professionalism of a good commercial broker compared to la la land residential sales people is a reality.

Bottom line

A bunch of Americans sued the new president for civic ''FRAUD'' -- and they're getting paid.

C'mon, absolutely every President had to pay $25 million to settle a ''FRAUD'' case while refusing to show his taxes. So Normal.

When those blue collar workers who were promised jobs, see no jobs, rich folks taking their children's future, and entitlement reform not being what was promised.......there will be no lawsuit.......you see stupid cannot be fixed with a monetary payment.

polecat wrote:Bottom line

A bunch of Americans sued the new president for civic ''FRAUD'' -- and they're getting paid.

But he caved for the good of the country.....