Trump nears $20 million settlement in Trump University lawsuit

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NEW YORK, Nov 18 (Reuters) - President-elect Donald Trump is nearing a settlement of about $20 million in fraud lawsuits relating to Trump University, a person familiar with the matter said on Friday.

Lawyers for the president-elect have been squaring off against students who claim they were they were lured by false promises into paying up to $35,000 to learn Trump's real estate investing "secrets" from his "hand-picked" instructors.

There are three lawsuits relating to Trump University: two class actions in California and a case brought by New York Attorney General Eric Schneiderman. All would be covered in the possible settlement, the person said.

RELATED: Inside Donald Trump's $1.65 million childhood home

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Inside Donald Trump's $1.65 million childhood home
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Inside Donald Trump's $1.65 million childhood home

The Tudor-style home has a brick-and-stucco façade.

Photography by StreetEasy

There’s a fireplace in the living room.

Photography by StreetEasy

A view of the wood-paneled office.

Photography by StreetEasy

The formal dining room has enough space for a small gathering.

Photography by StreetEasy

A look at the kitchen.

Photography by StreetEasy

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A trial in one of the cases is scheduled to begin on Nov. 28 in U.S. District Court in San Diego.

"As Attorney General Schneiderman has long said, he has always been open to a settlement that fairly compensates the many victims of Trump University who have been waiting years for a resolution," Eric Soufer, a spokesman for Schneiderman, said in a statement.

Neither Trump's lawyers nor lawyers representing the students immediately responded to calls for comment.

Trump has said he did not "hand pick" Trump University instructors, but that marketing language used was not to be taken literally. He has said most students gave the classes high ratings.

RELATED: See the Irish village dubbed "Trump Town"

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Irish village dubbed 'Trump Town'
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Irish village dubbed 'Trump Town'
DOONBEG, CO. CLARE - AUGUST 18: The par 5, 4th hole at Doonbeg Golf Club on August 18, 2010 in Doonbeg, Co Clare, Republic of Ireland. (Photo by David Cannon/Getty Images)
DOONBEG, CO. CLARE - AUGUST 18: AUGUST 18: AUGUST 18: AUGUST 18: AUGUST 18: AUGUST 18: The par 3, 14th hole at Doonbeg Golf Club on August 18, 2010 in Doonbeg, Co Clare, Republic of Ireland. (Photo by David Cannon/Getty Images)
DOONBEG, CO. CLARE - AUGUST 18: AUGUST 18: The par 4, 18th hole and the lodge and clubhouse at Doonbeg Golf Club on August 18, 2010 in Doonbeg, Co Clare, Republic of Ireland. (Photo by David Cannon/Getty Images)
DOONBEG, CO. CLARE - AUGUST 18: The members clubhouse at Doonbeg Golf Club on August 18, 2010 in Doonbeg, Co Clare, Republic of Ireland. (Photo by David Cannon/Getty Images)
Golfers on the Doonbeg Golf Links course and hotel in Co Clare, as US tycoon Donald Trump has said he will invest up to 45 million euro (36 million) in a renowned storm-ravaged golf course he bought in the west of Ireland.
Delighted to have some guests from Texas @TrumpDoonbeg today. Hope you enjoy your time in Ireland!! 🇮🇪☘ https://t.co/yi7WL4RFFA
Western sky full of drama this evening!! https://t.co/sCJu098UOb https://t.co/Ty1m4UguBg
Comerford traditional public bar established 1848 in Doonbeg, County Clare, Ireland
Rainbow Over the Lighthouse at Doonbeg Point, The Mullet Peninsula, County Mayo, Ireland
Road over Doonbeg Creek in Ireland
Doonbeg Public Castle Ruins next to the Doonbeg River in Ireland - The small fort, was built early in the sixteenth century. It was possessed by the O'Briens of Thomond and later by the McMahons of West Corca Baiscinn. In 1598 Tadhg Caoch McMahon garrisoned the castle which was surrendered to the Earl of Thomond a year later. He promptly had the garrison hanged in couples face to face. Later King James I made a grant of the castle to Daniel O'Brien, brother of the Earl
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A court hearing in the case set for trial is scheduled in San Diego for Friday afternoon. Trump's lawyers were expected to argue to delay the trial.

U.S. District Judge Gonzalo Curiel, who is presiding over the two California cases, has urged both sides to settle.

Trump triggered controversy earlier this year, when he said during his election campaign that Curiel, who was born in Indiana to Mexican immigrant parents, could not be impartial because of Trump's pledge to build a wall on the U.S.-Mexico border.

RELATED: Donald Trump's long history of presidential runs

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Donald Trump's long history of presidential runs
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Donald Trump's long history of presidential runs

1988: Donald Trump is widely publicized as saying the world is 'laughing at America's politicians' but, ultimately, did not begin a campaign

(Photo by: The Ring Magazine/Getty Images)

2000: Trump sought the nomination of the Reform Party with an exploratory committee

Business and real estate tycoon Donald Trump talks with reporters, Wednesday, Dec. 1, 1999, in Hartford, Conn. Trump was in Hartford to meet with national Reform Party leaders to discuss his possible bid for president. (AP Photo/Steve Miller)

New York developer and potential Reform Party presidential candidate Donald Trump (L) and Minnesota Govenor Jesse Ventura (R) take questions at a news conference after Trump gave a speech at a Chamber of Commerce luncheon 07 January 2000 in Brooklyn Park, Minnesota. (Photo credit should read CRAIG LASSIG/AFP/Getty Images)

2004: Trump stated he was "very seriously" considering a bid for the White House.

(Photo via REUTERS/Jeff Zelevansky JAZ)

2008: Trump said he would not run for Governor of New York, but a source close to the businessman said he was "definitely interested in running for president."

(Photo by Bill McCay/WireImage)

2012: Trump reportedly dropped out of the race in order to continue hosting his television show, The Apprentice.

(AP Photo/Alex Brandon, File)

Businessman and possible Republican Presidential candidate Donald Trump speaks at the Greater Nashua Chamber of Commerce Expo luncheon in Nashua, New Hampshire May 11, 2011. (Photo via REUTERS/Brian Snyder)
Donald Trump (C) announces his endorsement of Republican hopeful Mitt Romney (R) with wife Ann (L) at Trump International Hotel & Tower February 2, 2012 in Las Vegas, Nevada ahead of the February 4 Nevada caucus. (Photo credit should read STAN HONDA/AFP/Getty Images)
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