Word: fraud
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...decision in U.S. District Court is likely to resolve a second count of fraud against Shleifer. The count largely hinged on whether Shleifer, a star in the economics department, was bound by a conflict-of-interest provision that barred employees from making investments in countries to which they were “assigned...
...University was absolved of fraud charges in June but could still face damages of up to $34.8 million, the amount paid to Harvard by USAID after the first improper investment in July 1994. Shleifer and Hay could each face treble damages of up to $104 million, though any judgement is likely to be much less than that, and Hay’s lawyers have said their client is near a settlement with the government...
Harvard was cleared of fraud charges last June but may still be liable for up to $34.8 million in damages to USAID for breach of contract...
Last June, Shleifer and former HIID employee Jonathan Hay were found liable for fraud because of personal investments they made in Russia while advising the Russian government on privatization...
...University was cleared of fraud charges in June but still faces breach-of-contract damages of up to $34.8 million, the amount paid out under the two USAID contracts after the improper investments began...