Reuters is reporting that President-elect Donald Trump is nearing a settlement of about $20 million in fraud lawsuits relating to Trump University, a person familiar with the matter said on Friday.
Some former students of the now-defunct school claim they were they were lured by false promises into paying up to $35,000 to learn Trump’s real estate investing “secrets” from his “hand-picked” instructors.
Reporter Karen Freifeld writes that sources tell her there are three lawsuits relating to Trump University: two class actions in California and a case brought by New York Attorney General Eric Schneiderman. All would be covered in the possible settlement. One of the cases, in U.S. District Court in San Diego, is scheduled to begin Nov. 28.