On Wednesday, Donald Trump was found personally liable for running an unlicensed school. The lawsuit was brought by the New York Attorney General. The “university,” which supposedly taught people to be successful real estate investors, was essentially a scam.
In the suit, Trump allegedly mislead more than 5,000 people, who paid fees of between $1,495 and a whopping $35,000. However, in the ruling, according to the judge, only the last six months are within the statute of limitations.
Most of the media is posting little about the story, but the specific ways in which he ripped people off are overblown and mind-boggling in a way that is befitting our nation’s most prolific braggart.
These weren’t all rich people. Most were anything but. They were working-class people who wanted a few scraps the opulent life that Trump loves to Trumpet™. He was promising him more than scraps and some were paying as much as $35,000 for the keys to getting rich in real estate.
When Smith, 51, of Manhattan, saw the ad, he thought he’d attend a free seminar that could help him become a real estate investor.
He said the seminar was a sell-job for a $1,000 three-day class in which the instructor made a heavy sell for a $35,000 mentoring program with the goal of a 205% return on his tuition investment within 90 days.
But after using his credit cards to pay the $35,000, Smith was told by his mentor not to expect a quick return.
“Trump, as far as I can tell, had no real involvement in this program at all, other than collecting money, obviously. The thing’s a joke,” he said.
Source: New York Daily News
Trump didn’t have anything to do with the program, according to a profile of allegations in Mother Jones last year. He didn’t develop the curriculum. He didn’t hire the instructors. Despite the fact that speakers often insinuated that Trump would be dropping by, he never did. To add insult to injury, the only glimpse they got of Trump was a life-sized cardboard cutout, with which they could pose in a picture.
Despite the fact that the school is billed as a non-profit, Trump allegedly made $5 million off the school.
Mother Jones goes on to say that the instructors didn’t actually know anything about real estate. Many of those who did have experience investing had lost money.
Trump University talked the talk of a university.
“Some instructors claimed that a Trump degree ‘is a bit of a college degree’ and that Trump offered ‘graduate programs, post graduate programs, [and] doctorate programs.’” Furthermore, “Instructors routinely referred to themselves as ‘faculty’ and to the Trump University program participants as ‘students’ and then ‘graduates’ after completing a course and going through ‘graduation.’”
And for the icing on the cake, students were reportedly not taught anything that couldn’t be learned on Google.
Source: Mother Jones