"Student Housing Pioneer's Legal Woes: $115 Million Bill and Investor Backlash"
Originally Published 1 year ago — by The New York Times
Patrick Nelson, a pioneer in off-campus student housing, is facing a $115 million bill and numerous lawsuits from angry investors and lenders. His business has soured in recent years, leading to escalating fines and interest, as well as civil contempt charges from judges over alleged misuse of company money. Despite the mounting legal challenges, Nelson maintains that he is doing everything he can to live up to his obligations.