Thursday, October 16, 2014

JUDGE: Trump Personally Liable in Suit Against Unlicensed ‘Trump University’

Manhattan State Supreme Court Judge Cynthia Kern has ruled that Donald Trump is personally liable for running an unlicensed real estate school.

The suit was brought by his archenemy, New York Attorney General Eric Schneiderman.

Thousands of students paid between $1,495 and $35,000 to attend the courses.

The lawsuit covers complaints received between 2005 through 2011.

Scheiderman said that the three-day seminars failed to unlock the secrets of instant wealth — and that Trump was never even present.

The charges have always struck me as bogus. Trump wasn't at the course, so what? He wasn't advertised to be there. Do one of the McDonald brothers have to be at a McDonald's restaurant before a transaction takes place. Further, no money in one of Trump's courses changes hands until after a free seminar, so anyone could look around and see that Trump wasn't in the room.

I wrote this is 2013:
As for the course itself, a few years back, I happened to be staying at the Westin Bonaventure Hotel in downtown Los Angeles. On my way back from a day of meetings, I noticed a sign in the lobby directing people to a Trump Real Estate seminar. Ever curious, I wandered over to check it out. It was a free seminar that was about to start and I decided to stay. I was impressed with the instructor, who appeared to have a very strong real estate background, and with the presentation itself, which included a number of creative methods to acquire real estate.

A pitch finally came, explaining how for a fee (It was probably between $1,000 and $2,000--It was a long time ago and I don't remember the exact price now) more advanced details would be provided along with all the contracts to execute the types of purchases the program recommended.

The program seemed pretty decent to me. My gut feeling was that the contracts alone were worth the price of the course. Obviously, you are not going to walk out of the course a millionaire without doing a lot of hard work on your own, but it appeared to me that the program would be a good starter point for someone wanting to learn about the business.  As for me, I was just curious and there was no reason to sign up, but, again, for someone breaking into real estate, I thought the program could be valuable. In fact, I recommended to a friend, who was considering entering the real estate sector, to take the course.

Relative to the "education" students are given at state universities, the cost of  the state "education" and the waiters jobs they get after, Trump's program is a beacon of light.

Schneiderman is a typical government agent playing power government. If he was really concerned with education, he would be closing down the state colleges that offer totally worthless education, and he would be leaving Trump alone, who through the courses is delivering exactly what he says he is: Information on how to succeed in real estate.

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