US President-elect Donald Trump nears $20m settlement in Trump University fraud case

Caitlin Morrison
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President-Elect Trump And Vice President-Elect Pence Meet With House Speaker Paul Ryan On Capitol Hill
Trump is close to settling a number of fraud cases connected to his University (Source: Getty)

US President-elect Donald Trump is reported to be close to agreeing a settlement of around $20m (£16.2m) in fraud lawsuits connected with Trump University.

Lawyers for Trump are dealing with cases brought by former students who claim they were lured by false promises into paying up to $35,000 to learn Trump's real estate investing "secrets" from his "hand-picked" instructors, Reuters reported.

Trump is currently involved in three lawsuits relating to the for-profit education company he set up in 2004 - two class actions in California and a case brought by New York attorney general Eric Schneiderman.

"As attorney general Schneiderman has long said, he has always been open to a settlement that fairly compensates the many victims of Trump University who have been waiting years for a resolution," said the AG's spokesman, Eric Soufer.

Trump, who was voted the 45th President of the United States ten days ago has not commented on the settlement.

The former reality TV star and property mogul is in the middle of putting together his cabinet ahead of taking office in January 2017. Meanwhile President (for now) Barack Obama is on his farewell tour of Europe.

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