October 29, 2018

SCAMS ALL THE WAY DOWN:

Trump Persuaded Struggling People to Invest in Scams, Lawsuit Says (Maggie Haberman and Benjamin Weiser, Oct. 29, 2018, NY Times)

The 160-page complaint alleges that Mr. Trump and his family received secret payments from three business entities in exchange for promoting them as legitimate opportunities, when in reality they were get-rich-quick schemes that harmed investors, many of whom were unsophisticated and struggling financially.

Those business entities were ACN, a telecommunications marketing company that paid Mr. Trump millions of dollars to endorse its products; the Trump Network, a vitamin marketing enterprise; and the Trump Institute, which the suit said offered "extravagantly priced multiday training seminars" on Mr. Trump's real estate "secrets." [...]

The suit is not the first to accuse Mr. Trump of fraud. Shortly after his election in November 2016, he agreed to pay $25 million to settle a series of lawsuits, including one by New York State's attorney general, that alleged unscrupulous practices by Trump University, another venture that claimed to sell access to his real estate secrets.

Posted by at October 29, 2018 1:36 PM

  

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