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Resource ID: #20991
Subject: Loan Scams
Source: Willamette Week (Portland, Ore.)
Date: 2003-06-04



The story revealed " an unauthorized and ill-fated $10.5 million dollar loan by Michael Mooney, the president of Lewis and Clark College in Portland to a thinly capitalized company that claimed to have discovered a process for turning waste oil into gasoline". The borrower later declared bankruptcy. After the story ran, Mooney had to resign.

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