Business investors

Trump, his children Eric, Don Jr. and Ivanka, and his company are also being sued in the same courthouse by a group of people who claim that the family conned them into making bad investments in businesses the Trumps were promoting. The suit, which seeks class-action status for thousands of people, alleges that Trump hid that he was being paid millions to endorse the companies.

“From 2005 to at least 2015, defendants received millions of dollars in secret payments to promote and endorse ACN,” the suit alleges, referring to a multilevel marketing company that was among the businesses the Trumps were endorsing. “In return, Donald J. Trump told prospective investors that ‘[y]ou have a great opportunity before you at ACN without any of the risks most entrepreneurs have to take,’ and that ACN’s flagship videophone was doing ‘half-a-billion dollars’ worth of sales a year.’ Trump also told investors that he had ‘experienced the opportunity’ and ‘done a lot of research,’ and that his endorsement was ‘not for any money.’ Not a word of this was true.”

Trump’s attorneys contended that the investors didn’t have a case because none of them paid the Trumps directly, and they argued that the family isn’t responsible for any of their losses. They also argued that Trump’s statements were opinion and that they included “puffery” that no “reasonable investor” would have relied upon.

Depositions are supposed to be concluded by April 29, and the case is expected to go to trial in 2023.