Trump pays $25M to settle Trump University lawsuits: report

Trump pays $25M to settle Trump University lawsuits: report
© Getty

President-elect Donald TrumpDonald John TrumpGingrich: Trump ‘mishandled’ Rosenstein memo on Comey Trump to gift Macron framed upholstery: report Former presidents, first ladies come together to honor Barbara Bush MORE on Wednesday paid $25 million to settle three lawsuits over his now-defunct Trump University, CNN Money reported. 

Of that, $21 million will go to former students of Trump University in California, where two class-action lawsuits were filed, while $4 million will go to a suit filed in New York by state Attorney General Eric Schneiderman.

The lawsuits claimed that the Trump-branded organization offered expensive real estate classes that falsely advertised instructors who were associated with Trump.

Schneiderman has referred to Trump University's actions as the "hallmark of snake-oil salesmen."

The online school did not have to admit wrongdoing in the settlement.

The Trump Organization did not immediately provide CNN Money with a comment, but in November said the settlements would allow Trump to focus on his duties as president-elect.

"While we have no doubt that Trump University would have prevailed at trial based on the merits of this case, resolution of these matters allow President-Elect Trump to devote his full attention to the important issues facing our great nation," a spokesperson said at the time.

By settling in November, the president-elect avoided having to appear in court over the lawsuits.