How did top Republican Donald Trump make it rich? Through the hard work and labor intensive process of defrauding millions of students with his “Trump University,” according to a new lawsuit that alleges Trump swindled students of tens of thousands of dollars.
Active between 2005 and 2010, Donald Trump’s “Trump University” was supposed to offer potential students instructions on how to become successful real estate moguls (rule one: if at first you don’t succeed, declare bankruptcy again). Unfortunately, it didn’t work out that way.
In October of 2014, a lawsuit found Trump personally liable for running what New York called an “unlicensed school.” The lawsuit alleged that Trump scammed some 5,000 people, who paid fees ranging between $1,493 and $35,000, to learn how to declare bankruptcy like a pro at his own school, “Trump University.”
The school offered a free 90 minute seminar, but charged $1,493 for a three-day package. Students could also shovel out the full $35,000 for the “Trump Gold Elite,” which included a one-on-one “mentorship” from instructors “handpicked” by Trump himself.
An investigation into the school, carried out by New York’s Attorney General Eric Schneiderman, found that each seminar promised students more valuable real estate secrets, but they had to purchase higher level packages to get them. It also suggested that students call their credit card companies, which would supposedly raise their credit score.
The investigation revealed that the “experienced real estate investors” that the school touted lacked credentials, didn’t have much background in real estate. In fact, some had even declared bankruptcy themselves!
Trump was told in 2005 that he couldn’t use the word “university” without an education license in New York, but, of course, arrogant Trump ignored the warning. Since then, the
school scam has been mired in dozens of lawsuits. The university was forced to pay restitution to nearly 800 students, prompting Trump to counter sue the attorney general for $100 million — because poor, bullied Donald Trump is never wrong (at least not in his own delusional, ferret-covered head).
Trump is facing two class action lawsuits from students who poured nearly $40,000 into his
school scam. He’s has been called to testify on August 10th.
Just four days before that court date, Trump is due to appear in the first Republican primary debate, on August 6, confirming what we already knew: the Republican field is little more than a collection of crooks, frauds, and breathless idiots.
Feature image via Wikimedia Commons