Trump was deposed in a fraud suit that involved a failed 'videophone' from 2008, which lawyers alleged was 'doomed almost from the outset:' report

• A class action lawsuit has been filed against Donald Trump and his company.

• According to the suit, Trump cheated investors into investing in ACN.

• The company's flagship product was a videophone that was no longer in use today.

Donald Trump was deposed for a class action lawsuit that claims he misled investors into funding a multi-level marketing company that once sold a failed "videophone."

An anonymous source said that he was deposed in October.

Donald Trump, his company, and his three oldest children are named in a lawsuit.

The company received millions of dollars in secret payments to promote and endorse ACN, a multi-level marketing company that specializes in telecommunications.

The lawsuit alleged that Trump gave glowing endorsements for the company.

According to the court documents, Trump told prospective investors that he had a great opportunity before them.

The videophone was endorsed by Trump to convince the financial viability of the company. According to the lawsuit, the product was a desktop, wired telephone with a video screen andWebcam in addition to the usual handsets and keypad. It needed an internet connection and was only compatible with other ACN phones.

A spokesman for Trump didn't reply immediately.

The new ACN Video Phone was praised by Trump multiple times. The product was doomed from the beginning, according to the lawsuit.

The videophone was no longer needed due to the availability of video chat on the phone. Apple would popularize video chat by installing a front-facing camera in its iPhone by 2010 after introducing video calling in 2006).

"As we complete fact discovery in this important fraud case, we could not be more pleased with the substantial body of evidence we have developed that will prove our clients' claims," Roberta Kaplan told Insider. We want to get this case to trial as quickly as possible.

Kaplan is representing E. JeanCarroll in a suit against Trump, who is accused of sexually assaulting her in a department store in the 90s.

He was deposed on Wednesday.

Business Insider has an article on it.