Share

Trump and his children accused in lawsuit of investment scams

President Donald Trump and his three eldest children were named in a proposed class-action lawsuit accusing the family of targeting working-class Americans with investment scams. The suit was filed on Monday in federal court in New York by four individuals who say they represent thousands of other victims.

Key allegations:

"The Trumps conned each of these victims into giving up hundreds of thousands of dollars - losses that many experienced as devastating and life-altering," according to the suit. Trump, along with his children Don Jr., Eric and Ivanka, have for years sought to systematically defraud "economically marginalised people" looking to invest in their educations or start small businesses, according to the complaint.

The suit focuses on the Trump family’s involvement in a multi-level marketing company called ACN, which offers business opportunities to participants. From 2005 to 2015, Trump endorsed ACN in exchange for millions of dollars in "secret payments", the suit claims. Trump allegedly said in promotions that participants have a "great opportunity" without "any of the risks most entrepreneurs have to take".


* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.90
+0.2%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders