Trump University sued by Attorney General for $40 million

Discussion in 'General Distance Learning Discussions' started by John Bear, Aug 25, 2013.

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  1. John Bear

    John Bear Senior Member

    New York magazine, today

    Donald Trump Sued for Running Scam University

    "It turns out that Trump University is not, in fact, an illustrious business school, but a scam that defrauded at least 5,000 people who had hoped to learn investing skills from America's most prominent birther (who was once better known for being good at making money.) New York Attorney General Eric Schneiderman has filed a $40 million lawsuit against Donald Trump, the Trump Organization, and other people involved in running the alleged racket, which Schneiderman says "engaged in deception at every stage of consumers' advancement through costly programs and caused real financial harm."

    The lawsuit says Trump University attendees paid between $1,495 and $35,000 to attend courses and enroll in mentorship programs that left many "unable to land even one real estate deal" and "facing thousands of dollars in debt for the seminar program once billed as a top quality university with Trump's 'hand-picked' instructors..."
     
  2. Phdtobe

    Phdtobe Well-Known Member

    You're fired! Did someone once mentioned "419" scam? Isn't TU a more sophisticated scam?
     
  3. Johann

    Johann Well-Known Member

    Sophisticated or not - a scam is a scam. - And were the TU "scammed" under any coercion to sign up? If not...

    My Trump U. experience:

    (1) Trump's ad offered me a free PDF book with financial tips in exchange for my email.
    (2) It was pretty good for a freebie. Still have it. 250 tips some valuable others less so, as I see it.
    (3) I was bombarded with seminar ads (email) for a while. I just ignored them (easy)
    (4) I checked the Trump U. forum. Screams, complaints, "I paid thousands, where's my mentor, etc."
    (5) The emails stopped. I forgot about them - and still have the very impressive book with Mr. Trump on the cover.

    So - I guess I'm ahead on the deal. BTW - Another prominent financial guru, Robert Kiyosaki, lent his name to seminars at which he never appeared. People were warned in the fine print he wouldn't be there. I believe those seminars brought some trouble too.

    Famous people should be careful to preserve their good names. You can't buy them back when they're gone. Funny - I think there was some advice like that in Mr. Trump's book. :smile:

    Johann
     
    Last edited by a moderator: Aug 25, 2013
  4. Rich Douglas

    Rich Douglas Well-Known Member

    Where's that horse? Oh, well. Close the barn door.

    ('Cause, you know, Trump had such a fine reputation up to now.)
     
  5. RAM PhD

    RAM PhD Member

    Say it ain't so! Not The Donald!
     
  6. Johann

    Johann Well-Known Member

    Of course it's him, RAM.

    Best Trump joke I know:

    "When Osama Bin Laden was killed, Donald Trump wouldn't believe it. He wanted to see the Death Certificate!"

    Whether the scam allegations will stand up or not, I have no idea. What I do know is this - the New York Board of Regents took exception to the name "Trump University" and made him change the name. Perhaps my book with the "Trump U." logo will be valuable someday. Who knows? I've preserved it in the finest clear plastic, just in case. :smile:

    Johann
     
    Last edited by a moderator: Aug 26, 2013
  7. Phdtobe

    Phdtobe Well-Known Member

    It is amazing how intelligent people can rationalize being the victims of scams. All scams are not created equally.
     
  8. Ted Heiks

    Ted Heiks Moderator and Distinguished Senior Member

    Did anybody really believe that Trump University was a real university? If so, such people should be arrested, charged, tried, convicted, and executed for illegal stupidity.
     
    Last edited by a moderator: Aug 27, 2013
  9. RAM PhD

    RAM PhD Member

    I know, Johann, just a bit of sarcasm. :smile:
     
  10. Johann

    Johann Well-Known Member

    I knew you knew. (And you, of course, knew that I knew that you knew.) :smile:

    Johann
     
  11. Johann

    Johann Well-Known Member

    I agree - sort of, Ted. If gross stupidity is not illegal, it should at least hurt. However, I don't think anyone thought of Trump U. as a real "University." The scam allegations come from people who hoped:

    (1) Trump U. would make them rich and financially knowledgeable
    (2) If they paid the price, they would get access to a "mentor" - maybe some of them even thought that might be Mr. Trump. I dunno.

    The howls of dismay are because Trump U. left them poorer than before and some didn't get a mentor, etc. - whatever they had been promised, or thought they had. This is about greed - not degrees. The greed of Trump U. and that of its enrolled participants - I won't call them students. Whether that kind of stupidity deserves execution -- well, I'll leave that to you.

    Johann
     
    Last edited by a moderator: Aug 27, 2013
  12. RAM PhD

    RAM PhD Member

    Agreed!!!!
     
  13. Rich Douglas

    Rich Douglas Well-Known Member

    "The most popular course at Donald Trump University: How to Become Rich Like Donald Trump by Opening Your Own Phony School." --David Letterman

    "Well, the state claims it's not a real college because students get very little education and were unable to find jobs after they graduated. Sounds like a real college to me."--Jay Leno
     
  14. 03310151

    03310151 Active Member

    Hahaha, awesome.
     
  15. Johann

    Johann Well-Known Member

    I think I'd probably learn more at a "college" fronted by either Dave Letterman or Jay Leno, than a "school" under the Trump flag.
    At the very least, it would be 'way more fun. :jester: Well, thanks again for the free book anyway, Professor Trump!

    Johann
     
  16. RAM PhD

    RAM PhD Member

    Seriously, how could Trump's "whatever it is" be a fake university? It isn't accredited. It doesn't offer college credits or degrees. It may well be a fake/phony company, business or enterprise, but a fake university?
     
  17. Rich Douglas

    Rich Douglas Well-Known Member

    The term "university" is highly regulated in New York. Trump was forced to drop that term in 2010.

    The complaints aren't related to its status (or lack thereof) as a university. The complaints stem from consumers feeling they were hustled in a multi-level scam. Go to a free seminar, get sold a 4-figure seminar. At that seminar, get told the process isn't complete and you're not ready. You need a bigger, 5-figure package. And even with that, you don't get business results. That's the alleged problem. (Among others, like promises Trump would appear at events that he never planned to attend. Stuff like that.)
     
  18. Kizmet

    Kizmet Moderator

    Here's a news story, probably old for anyone who's actually interested in this issue. I've always thought of Trump as a publicity seeker. He'll probably settle any suits quietly, close his "university," and simply move on to his next venture. Any intermittent news stories on this topic will only serve his ego, thinking that everyone is talking about him.

    Trump faces two-front legal fight over 'university'
     
  19. Johann

    Johann Well-Known Member

    Yes - we've been through this Trump-suit thing before, here: http://www.degreeinfo.com/general-distance-learning-discussions/38286-trump-university%92s-unhappy-student.html
    Looking up web-info on Tarla Makaeff, who's suing him -- it looks to me like one brash self-promoter vs. another. :sad:

    As I said then, one would think Mr. Trump could devise better ways of making money than luring people with a pyramid-of-seminars pitch. He has failed completely to keep a good name. Rich said it best: close the barn door, that horse is long-gone.

    Sad indeed, that a man with a Wharton education would lower himself so...

    Johann
     
    Last edited by a moderator: Aug 30, 2013

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