Donald Trump was sued by New York Attorney General Eric Schneiderman over claims the billionaire operated a fraudulent online educational institute that swindled students out of $40 million, Bloomberg News reported yesterday. Trump University, now known as the Trump Entrepreneur Initiative, operated as an unlicensed educational institution and misled students with promises that they would gain real estate investing expertise, according to a copy of the petition provided by Schneiderman’s office. Students paid as much as $35,000 for the institute’s programs, purportedly taught by experts “handpicked” by Trump, according to the petition. Trump didn’t select the instructors, many of whom didn’t have real estate backgrounds or had recently sought bankruptcy because of their real estate investing failures, Schneiderman’s office alleged.
