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Monday, September 02, 2013

New York sues Trump University for fraud

First, it was Robery Kiyosaki's fraudulent Rich Dad seminar that ripped people off with worthless and overpriced real estate classes.  Then Donald Trump copied the same fraudulent model from Rich Dad and Trump is getting even richer by scamming his students with worthless and overpriced business and real estate classes called Trump University.

N.Y. sues 'Trump University'
New York's attorney general sued Donald Trump for $40 million Saturday, saying the real estate mogul helped run a phony "Trump University" that promised to make students rich but instead steered them into expensive and mostly useless seminars, and even failed to deliver promised apprenticeships.

Attorney General Eric Schneiderman says many of the 5,000 students who paid up to $35,000 thought they would at least meet Trump but instead all they got was their picture taken in front of a life-size picture of "The Apprentice" TV star.

"Trump University engaged in deception at every stage of consumers' advancement through costly programs and caused real financial harm," Schneiderman said. "Trump University, with Donald Trump's knowledge and participation, relied on Trump's name recognition and celebrity status to take advantage of consumers who believed in the Trump brand."

The lawsuit says many of the wannabe moguls were unable to land even one real estate deal and were left far worse off than before the lessons, facing thousands of dollars in debt for the seminar program once billed as a top quality university with Trump's "hand-picked" instructors.

Schneiderman is suing the program, Trump as the university chairman, and the former president of the university in a case to be handled in state Supreme Court in Manhattan. He accuses them of engaging in persistent fraud, illegal and deceptive conduct and violating federal consumer protection law. The $40 million he seeks is mostly to pay restitution to consumers.

Whether it is Robert Kiyosaki, Donald Trump, Glenn Beck, or Rush Limbaugh, when you deal with these fraudulent right-wing crooks, you get back nothing for what you paid.  That's the real lesson on getting rich - they scam you so they can get richer at your expense.

This parody video was right about Donald Trump and his kind all along.  Now the real financial education is, are you going to grow up and stop getting suckered and scammed by them?