Word: hay
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After more than three years of federal investigations, the U.S. government is suing Professor of Economics Andrei Schleifer '82 and Jonathan Hay, a former legal advisor, for seeking personal gain from their positions in a consulting project helping Russia in the transition from Communism to a market economy. The suit alleges that Schleifer and Hay, along with their wives, both financial professionals operating in the Russian capital market, profited from conflict-of-interest investments. They are also charged with using U.S. Agency for International Development (USAID) funds for their own private operations. More importantly, the suit implicates Harvard University, alleging...
...architecture, so he made sure that the home picked up qualities of the area's cultural heritage, from its antebellum porches to the curves of silos. And in keeping with the studio's philosophy of building with local and inexpensive materials, the students scavenged for supplies, gathering bales of hay for the walls and sheets of acrylic for the roof. "When they started on the house, I told people that the cows would eat up my house," Alberta Bryant jokes, recalling her nervousness about having her home constructed from stuccoed-over livestock fodder. Yet six years later, the building...
...addition to the University, the suit names Professor of Economics Andrei Shleifer '82, his wife Nancy Zimmerman, former Harvard employee Jonathan Hay and his wife Elizabeth Hebert as defendants. Shleifer was principal investigator and project director of the aid program and Hay was the general director...
...complaint alleges that Shleifer and Zimmerman invested $200,000 in various Russian companies and Russian government debt. In addition, the couple and Hay allegedly purchased "several hundred thousand dollars worth" of shares in Russian oil companies in the name of Shleifer's father...
...complaint also includes claims that all four individuals used their position to gain official approval to launch mutual funds in Russia. Hay and Zimmerman are also accused of using U.S. government-funded staff and offices for purposes like performing research for their private oil investments...