Word: employeees
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The government filed suit for fraud in 2000, alleging that the investments made by Shleifer and project manager Jonathan Hay, a former Harvard employee, violated USAID’s conflict of interest policy. The University was also named in the suit, which sought over $100 million in damages.
“In a criminal trial it’s unlikely that an action taken in an internal employee disciplinary matter will be entered into evidence of that case,” says John F. Stoviak ’73, an attorney in Philadelphia who has handled several fraud...
The agreement came nearly a year after Woodlock found Shleifer, who is the Jones professor of economics, and Jonathan Hay, a former Harvard employee, liable for conspiring to defraud the government. The two men made personal investments in Russia while advising a U.S.-funded program to privatize the economy there...
Immelt’s 2002 decision to treat employee stock options as an expenditure drew industry-wide accolades, as colleagues praised his commitment to fiscal responsibility.
How did this happen? When the government is the main business owner, private parties cannot secure their property rights, especially when those properties are easy-to-appropriate intangibles such as brands, trademarks, business processes and ideas, whether they are protected by a foreign patent or not. The problem has been...