sorry, but I cannot hold myself

Trump University a Scam, Suit Claims
Students say they spent thousands of dollars and got nothing in return

By Jon Hood
ConsumerAffairs.com

May 5, 2010

A group of consumers has filed suit against Trump University, the financial institution that holds itself out as a vehicle to instant wealth and happiness, alleging that the only thing they got from the school was a massive amount of debt.

According to the suit, Trump University promises big things, assuring consumers that "it's the 'next best thing' to being Donald Trump's next 'Apprentice." Indeed, the company's website promises that students can, depending on their goals, "become the next real estate mogul," "become your own success story," or "learn wealth strategies."

But the plaintiffs say it didn't take long before they realized that "[t]he primary lesson Trump University teaches its students is how to spend more money buying more Trump seminars."

According to the complaint, when the plaintiffs first arrived at Trump University, the faculty sought to reassure them about the high cost of the seminars they were being offered. Specifically, the plaintiffs say they were told they would get all their money back at their first real estate closing, and that they stood to make "tens of thousands of dollars" every month after that. And, in addition to the seminars, the plaintiffs say they were promised, among other things "a one-year apprenticeship, a one-on-one mentorship ... [and] a 'power team' consisting of real estate [professionals]."

Lead plaintiff spent $60,000
As it turned out, Trump University might have oversold itself a bit. According to the suit, the one-year apprenticeship turned out to be a three-day seminar; the one-on-one mentorship, paradoxically, "consisted of no practical insights and no mentorship"; and the members of the "power team" were only interested in lining their own pockets.

The suit also says students were asked to raise their credit card limits and prepare "detailed financial statements," ostensibly so that they would have enough money to cover their first real estate investment opportunity. In reality, though, the plaintiffs claim Trump University was just making sure that the students would have enough money to cover the Trump Gold Program, which clocks in at an eye-popping $34,995.

According to the suit, lead plaintiff Tarla Makaeff was talked into signing up for the program after Trump University speaker Tiffany Brinkman guaranteed that her first real estate deal "would earn her in the ballpark of $35,000." Makaeff spent $60,000 on Trump courses over a one-year period, and ended up having to turn down the only two real estate deals that came her way, as "both were flawed and appeared unprofitable."

Allegations resemble other suits
Unfortunately, Trump University isn't unique. Last September, a suit against Millionaire University claimed that students spent over $20,000 on "real estate investment opportunities," only to end up with property that no one was willing to buy. The homes were in "high crime, highly vandalized areas," and, in case that wasn't enough, Millionaire University saturated neighborhoods with "five or more of the same model home...in close proximity to one another," making resale almost impossible.

Trump University was founded by Donald Trump, the real estate tycoon and host of The Apprentice, the NBC reality show in which contestants compete to be Trump's second-hand man. The school's home page features a characteristically intense-looking Trump next to the headline, "Are YOU My Next Apprentice? Prove it to me!" A button below the challenge instructs visitors to "Join Now. It's Free."

The plaintiffs are demanding a full refund for the money they spent on Trump University courses, an injunction prohibiting Trump from falsely advertising the school, and all suit-related costs, including attorneys' fees. The suit alleges breach of contract, breach of the covenant of good faith and fair dealing, negligent misrepresentation, fraud, and violation of several California consumer protection statutes.

(http://www.consumeraffairs.com/news04/2010/05/trump_univ_suit.html)

The Trump university (yep, 2nd time!)

The Trump university is an interesting case, and a new one (class action filed just on April).
I was amazed to find out that I am not the only sucker under the sky:

Donald Trump University - scam alert!


Post subject: BEWARE of TRUMP UNIVERSITY since it is ALL a SCAM and RIPOFF!!!!

Trump University and Trump Institute have their employees put fake positive reviews online to counter the real negative reviews posted by everyone that's getting ripped off by their scams. BEWARE of any positive reviews you see about Trump University or Trump Institute since they are bogus!!!

Scam Alert - Customer Reviews for the Donald Trump "Trump University"

(http://www.nemmar.com/forum/viewtopic.php?f=135&t=16154&sid=7bcd3760d800897e744b14c7a7b1f922)

Now this is interesting, should I expect his hairness to open a counter blog and post counter posts?


They also try to upsell to another program that cost $38000.

I went to the three day seminar and I didn't learn anything that I hadn't seen before. You could go to Barnes and noble and buy books on foreclosure investing and lease options and asset protection and spend no more than about a hundred fifty dollars and have the same information.
The person doing the seminar said you could be a millionaire simply by buying 10 houses for 100K each rent them for ten years, they would double in value giving you a million in equity.
Where I live it takes 20 or thirty years for a house to double in value.
They also try to upsell to another program that cost $38000. The contract has a statement that implies that there is no guarantee that you will make money after spending $38000 or that Trump U is in anyway obligated to make sure you make anything. I asked about this and they said yes, Trump makes no guarantee and you will not be refunded anything if you don't make anything. For $4000 there is a local real estate club that will find a house with 25000 equity fix it up and rent it out for you.
Trump should guarantee that they will find at least 2 houses over a two year period get them fixed up and rented out and sell them making enough profit to at least break even.
You go to these seminars and they talk as if you can flip a house in a week or two and put $25000 profit in your bank account. If its as easy as they say giving you some kind of guarantee shouldn't be a problem.

Scam Alert - Customer Reviews for the Donald Trump "Trump University"
http://www.nemmar.com/forum/viewtopic.php?f=135&t=16153

Donald Trump's online business school - a ripoff

Fashion designer Tarla Makaeff - filed a class-action suit claiming she was guaranteed a one-year apprenticeship - and a personal real estate mentor that would be the "next best thing to being Donald Trump's next 'Apprentice.' Makaeff says she lost $80,000, including $34,995 for a "Trump Gold Elite membership." She was whacked on interest, financing, late fees, penalties and expenses. "I relied on the Trump name and Donald Trump's reputation as a real estate mogul," she told the Daily News. "I expected nothing less than the best. ... Big mistake."

A California businesswoman - Lured by the Trump name, she took bogus seminars at Trump University that destroyed her credit - and taught her almost nothing about real estate.