President-elect Donald Trump reached a $25 million settlement in a series of fraud cases tied to Trump University real estate seminars — cases that he repeatedly vowed to never settle.
The settlement covers three different cases of students who claimed that they were lured by false promises into paying $35,000 to learn about real estate investing.
“Trump University has a 98% approval rating. I could have settled but won’t out of principle!” The president-elect tweeted in February as the issue dogged Trump’s Republican primary campaign.
Trump revisited the issue in March, tweeting that he “wanted to go to court,” because the Trump University case would be an “easy win.”
The phony lawsuit against Trump U could have been easily settled by me but I want to go to court. 98% approval rating by students. Easy win
— Donald J. Trump (@realDonaldTrump) March 3, 2016
New York state attorney general Eric T. Schneiderman called the settlement a “stunning reversal” by Trump and a “major victory for the over 6,000 victims of his fraudulent 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,” New York state attorney general Eric T. Schneiderman said in a statement on Friday afternoon.
It is a reversal from Trump’s position in 2014, when he tweeted: “I love kicking lightweight @AGSchneiderman’s arse,” and encouraged JPMorgan Chase CEO Jamie Dimon to “Stop settling and fight!”
Business Insider Emails & Alerts
Site highlights each day to your inbox.