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New York's attorney-general Eric Schneiderman is suing Donald Trump for $US40 million ($A44.63 million), saying the real estate mogul helped run a phony "Trump University" that promised to make students rich but instead steered them into expensive and mostly useless seminars.
About 5000 students paid up to $US35,000 for the program, with the hope that they would at least meet Trump but all they got was a life-sized picture of him.
Schneiderman is suing the program, Trump as the university chairman, and the former president of the university, accusing them of engaging in persistent fraud, illegal and deceptive conduct and violating federal consumer protection law. The case will be handled in the state Supreme Court in Manhattan.
According to the lawsuit, many of the wannabe moguls were unable to land a single real estate deal and were left far worse off than before the lessons, facing thousands of dollars in debt for the seminar program billed as a top quality university with Trump's "hand-picked" instructors.
Schneiderman seeks the $US40 million mostly to pay restitution to consumers.
There was no immediate comment from Trump's spokeswoman when contacted.
