The whole family business is essentially based on a scam.
Courtesy of NYT:
A new lawsuit accuses President Trump, his company and three of his children of using the Trump name to entice vulnerable people to invest in sham business opportunities.
The allegations take aim at the heart of Mr. Trump’s personal narrative that he is a successful deal-maker who built a durable business, charging he and his family lent their name to a series of scams.
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 four plaintiffs, who were identified only with pseudonyms like Jane Doe, depict the Trump Organization as a racketeering enterprise that defrauded thousands of people for years as the president turned from construction to licensing his name for profit. The suit also names Donald Trump Jr., Ivanka Trump and Eric Trump as defendants.
There is a disclaimer in this piece suggesting that this lawsuit might be politically motivated, however in my opinion that really does not matter.
All that really matters is whether or not the Trump family is guilty of this type of thing, and I think even the casual observer would surmise that it is quite likely that they are indeed.
We already know that Trump used his name to sucker people into signing up for his bogus “Trump Universtiy” and ripped those people off “bigly.”
Trump had to pay 25 million to settle that lawsuit.
This lawsuit, in particular, accuses the Trump family of promoting pyramid schemes where the marks were told to invest their own money with the promise of returns on that investment which never materialized.
There are other lawsuits pending as well, and this next two years could be filled with numerous episodes of Trump being required to testify in court.