President-elect Donald Trump, who once declared "I don't settle lawsuits," took to Twitter Saturday to justify his decision to pay $25 million to settle fraud lawsuits over his now-defunct Trump University real estate seminar program. He also hinted that had he not been so busy preparing to take office, he might not have settled."The ONLY bad thing about winning the Presidency is that I did not have the time to go through a long but winning trial on Trump U. Too bad!," Trump tweeted.
Never licensed as a school, Trump University was in reality a series of real estate workshops in hotel ballrooms around the country, not unlike many other for-profit self-help or motivational seminars. Though short-lived, it remains a thorn in Trump's side nearly five years after its operations ceased: In three pending lawsuits, including one in which the New York attorney general is seeking $40 million in restitution, former students allege that the enterprise bilked them out of their money with misleading advertisements.Instead of a fast route to easy money, these Trump University students say they found generic seminars led by salesmen who pressured them to invest more cash in additional courses. The students say they didn't learn Trump's secrets and never received the one-on-one guidance they expected.