Word: epsteins
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...Epstein, according to bank officials and attorneys familiar with the case, defaulted on a $1.5 million loan he guaranteed from Los Angeles-based Mitsui Manufacturers Bank in 1988. But after a Los Angeles court ruled in 1992 that he was liable for the loan, interest and court costs, Epstein, by then a professor at Yeshiva University in New York City, had left town. The bank says he didn't leave a forwarding address...
That motion failed, but the bank was able to win some money from Epstein. According to a document obtained by The Crimson, Epstein will pay $13,000 a year in equal monthly installments to Manufacturers Bank. At that rate, the $2.7 million will be paid off in 207 years...
...Epstein, interviewed twice this week while attending a conference in Turku, Finland, repeatedly emphasized that the case was a matter of his personal finances and had been settled. He said he had guaranteed the loan for two companies, with which he was involved, and that he is pursuing unspecified action to recover the money he will be paying to Manufacturers...
...review of the situation conducted in March by officials both inside and outside the Business School concluded that there was no reason to prevent Epstein from returning to the school next fall for a second year as a visiting professor...
...court settlement and this review may complete the episode. But according to Epstein's colleagues and students at the Business School, the loan default, at best, raises questions about Epstein's judgment, and, at worst, raises questions about his ethics...