Trump Has Settled His Trump University Fraud Lawsuits for $25 Million

The president-elect reached the settlement Friday to wrap up the fraud allegations brought against him by students of Trump University and New York Attorney General Eric Schneiderman.

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Nov 18 2016, 4:15pm

Photo by Jabin Botsford/The Washington Post via Getty Images

Update 11/18/16: Donald Trump agreed to pay $25 million to settle the fraud allegations brought against him by students of Trump University and New York Attorney General Eric Schneiderman on Friday, according to the New York Times.

Trump is close to reaching a settlement with New York Attorney General Eric Schneiderman and a private law firm for the fraud cases against the president-elect's now-defunct Trump University, the New York Daily News reports.

While Schneiderman reportedly wanted Trump to shell out $40 million for allegedly scamming 5,000 students, Trump is expected to pay between $20 and $25 million to cover students from both California and New York. He's not expected to admit to any wrongdoing.

Trump's lawyers wanted to postpone the trial, scheduled for November 28, until after his inauguration in January, but Judge Gonzalo Curiel made it clear he was not willing to delay the six-year-old case any further. Curiel—who Trump once called a "total disgrace"—advised both sides of the suit to reach a settlement "given all else that's involved."

During his campaign, Trump repeatedly told crowds of supporters that he was looking forward to going to court in November, continuously defending the school. In 2010, the school received a D- rating from the Better Business Bureau.

A settlement is expected to be finalized as early as Friday.

Watch: Donald Trump's Day One Agenda

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