Donald Trump nearing settlement in Trump University fraud case

© Bebeto Matthews, File In this May 23, 2005 file photo, real estate mogul and reality TV star Donald Trump, left, listens as Michael Sexton introduces him at a news conference in New York where he announced the establishment of Trump University.

ALBANY — In a complete turnaround from his previous position, President-elect Donald Trump is nearing a settlement of the fraud cases brought in New York and California involving his now defunct for-profit Trump University, the Daily News has learned.

Under the emerging deal being negotiated by Trump's lawyers, New York State Attorney General Eric Schneiderman and the law firm that brought a class action lawsuit regarding Trump University in California, the president-elect will agree to pay between $20 million and $25 million to settle the matter, a source with knowledge of the situation said.

Trump will not admit to any wrongdoing in the final agreement, which could be announced as soon as Friday, the source said.
During the presidential campaign, Trump had threatened to have his executives reopen the school once the cases were done. It's not clear if that was bluster or if the settlement will bar that from happening even if he was serious.

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