Donald Trump Agrees to Pay $25 Million in Trump University Settlement

President-elect Donald Trump agrees to settle for $25 million in fraud causes brought against his now-defunct Trump University.

According to the New York Daily News $21 million will reimburse people involved in two California class action suits -- New York will receive $3 million and the remaining $1 million will go towards a penalty for violating New York education law for running an unlicensed university.

The New York case was brought by New York Attorney General Eric Schneiderman. Reuters reports Schneiderman says over 5,000 students were defrauded out of about $40 million.