I’m sure the school was hoping Roland would forgive the debt.
Now Roland’s dead, so what happens? What provisions are in his will about this?
Jeff emails: "Did you like that full paged ad Shalhevet placed in the Jewish Journal? Evidently Jerry’s a little worried about the 7 million dollar donation/loan that the Arnall family has on the books especially since they can call the school on the loan since Jerry Friedman was not living up to his commitments. Jerry sacked Ken Millman who was Arnall’s point man at the school for fiscal sanity."
LOS ANGELES — Ameriquest Mortgage founder Roland Arnall, a billionaire who became a symbol of the struggling sub-prime lending industry he helped create, died Monday at UCLA Medical Center, his family said. He was 68.
The cause was cancer, family spokeswoman Lisa Cohen said.
The Paris-born Arnall once sold flowers on the street corners of Los Angeles but over the years built a real estate and financial services fortune that transformed him into one of the nation’s wealthiest individuals.
A major Republican financier with ties to President Bush, he was appointed ambassador to the Netherlands in 2006 after an approval process that was slowed by unsettled issues regarding Ameriquest, the California-based lending company Arnall founded in 1979.