Former students of Trump University should have restitution coming, as President-elect Donald Trump has settled with the state of New York for $25 million.
It’s a huge win for more than 6,000 students who were in the words of the State of New York, “swindled” by Trump.
Rumors of the impending of the settlement came early on Friday and relieves him of likely being called to testify in a class action lawsuit in California that was scheduled to begin on November 28.
The Trump University business mostly offered courses on real-estate training during its five-year run from 2005 to 2010. When placed under scrutiny this summer during Trump’s presidential campaign by journalists who looked into its finances, and reported the stories of former students, Trump denied the accusations.
Here’s how the money breaks down: $21 million will go toward paying back former students in two class-action suits in California and New York will get $3 million to repay students not in the California claims.
Here’s the full statment from New York Attorney General Eric Schneidermann’s office. It is fiery.
Statement by A.G. Schneiderman On $25 Million Settlement Agreement Reached In Trump University Case
NEW YORK — Attorney General Eric T. Schneiderman issued the following statement on the $25 million settlement agreement reached in Trump University case:
In 2013, my office sued Donald Trump for swindling thousands of innocent Americans out of millions of dollars through a scheme known at Trump University. Donald Trump fought us every step of the way, filing baseless charges and fruitless appeals and refusing to settle for even modest amounts of compensation for the victims of his phony university. Today, that all changes. Today’s $25 million settlement agreement is a stunning reversal by Donald Trump and a major victory for the over 6,000 victims of his fraudulent university.
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. 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.
In the minutes after the settlement news broke on Friday, Trump didn’t immediately comment and instead chose to promote a one-hour Fox News special about him for the second time over the course of a single day.
In March, Trump said he “didn’t believe in settling” cases:
Below’s an actual commercial for Trump University to give you a sense of what was being offered:
Photos via Getty Images / Thos Robinson