Princeton University of the United States has issued a statement that the institution has nothing to do with the Princeton bonds at the center of a recent financial scandal.

“These bonds have absolutely no connection to Princeton University. We certainly would not want the good name of our university to be in any way besmirched by someone else’s unfortunate use of the name of the town in which we are proud to be located,” Robert K. Durkee, vice president of the New Jersey university, said in the statement.

The scandal concerns privately placed bonds issued by Princeton Economics International Ltd. of the U.S. via a paper company and sold to Japanese investors by Cresvale International Ltd., PEI’s brokerage subsidiary.

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