President-elect settles Trump University lawsuit for $25 million

Citing his recent elevation to the White House, attorneys for President-elect Donald Trump negotiated a settlement worth $25 million in two fraud cases brought by students in the New York businessman’s former real estate education program, dubbed Trump University.

Although the agreement is subject to approval by a judge, Mr. Trump is not bound to admit any wrongdoing.

Trump made no statement on Friday after the agreement was revealed, but he did explain his position after settling in two tweets.

The case, which threatened to distract Trump as he takes the White House, involved several thousand litigants in two states, New York and California, who claimed they were led to believe enrolling in Trump’s workshops would teach them the mogul’s secrets for success in the real estate industry.

Of the $25 million settlement, litigants in California will receive $21 million; the remaining $4 million will be disbursed to claimants in New York.

 

[Wall Street Journal] [Photo courtesy Mario Tama/Getty Images via The New Yorker]