ORU Millions Of Dollars In Debt

There's new information regarding the financial problems at Tulsa's Oral Roberts University. The chairman of ORU's Board of Regents says the school is $52 million in debt. The disclosure comes after a lawsuit accused Oral Roberts University President Richard Roberts and his wife, Lindsay, of out-of-control spending and using school money to remodel their home 11 times in over 14 years.

The ORU Regents blame the debt on ongoing maintenance costs at the university and weak donor support.

Originally aired 10/24/2007 9:29 PM - Updated 10/25/2007 8:58 AM