Before Inauguration, Trump Pays $25M To Settle Trump University Cases
SAN DIEGO (CBS / AP) -- President-elect Donald Trump has paid $25 million to settle three lawsuits against his now-defunct Trump University, signaling that a judge's approval of a settlement agreement remains on track for March 30.
Plaintiff attorney Jason Forge says Trump Entrepreneur Initiative paid the money into escrow ahead of Wednesday's deadline. Trump University was renamed Trump Entrepreneur Initiative in 2010 after New York state officials objected to the name because it wasn't an accredited school.
Trump made the payment to settle two federal class-action lawsuits in San Diego and a civil lawsuit filed by New York Attorney General Eric Schneiderman. The agreement, announced in November, sets aside $4 million for the New York attorney general's office and the rest for about 7,000 people who took Trump University programs.
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