New York is suing the American property mogul, Donald Trump for over R400 million because – you guessed it – his ‘Trump University’ basically just stole money from its students.
Trump University promised its students they would receive “individual instruction until they made their first deal.” Instead, all they got was a picture taken in front of a life-sized cardboard cut-out of the floppy haired Apprentice star, and thousands of dollars of debt resting uncomfortably on their shoulders. New York’s Attorney General, Eric Schneiderman, had this to say,
Trump University, with Donald Trump’s knowledge and participation, relied on Mr Trump’s name recognition and celebrity status to take advantage of consumers who believed in the Trump brand.
Over 5,000 students paid up to R360,000 for “masterclasses” on becoming top property developers, like the main-man himself, but ended up in a far worse position than they started in. Many of the wannabe moguls still haven’t landed a deal after they took the course and are crippled by debt. The instructors reportedly urged the students to increase their credit card limits for property deals, which they then had to use to pay for the programs.
[Source : Gawker, The Telegraph, NPR]
