A $25 million settlement agreement has been reached in the civil fraud lawsuits against President-elect Donald Trump and Trump University, according to New York's state attorney general.
Eric Schneiderman called the settlement "a stunning reversal by Donald Trump and a major victory for the over 6,000 victims of his fraudulent university" in a written statement.
"Donald Trump fought us every step of the way, filing baseless charges and fruitless appeals and refusing to settle for even modest amounts of compensation for the victims of his phony university," Schneiderman added. "Today, that all changes."
Schneiderman's office told NPR's Ina Jaffe that the settlement agreement applies to three separate lawsuits. Two are in California and one is in New York.
"Every victim" will receive a share of the settlement, Schneiderman said. He added that Trump has agreed to pay $1 million in penalties to the state of New York "for violating state education laws."
Students who purchased classes at Trump University have complained that "the promised Donald Trump investment techniques were mostly stuff that you could find on the internet. They say that the promised mentoring was worthless, that the instructors were unqualified and were not hand-picked by Donald Trump, as he claimed," Ina reported.
Trump's lawyers had said those claims are false, Ina said, "and in his deposition, Donald Trump said the students gave the courses a 97 percent approval rating and not even Harvard gets that."
Trump did not immediately comment on the reported settlement agreement.