Word: hay
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Shleifer and former Harvard employee Jonathan Hay were found in June to have “conspired to defraud” the government by making personal investments in Russia while advising the privatization program...
...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...
Today’s verdict will have implications for the outcome of a future trial that will assess the amount of damages Shleifer and Hay are liable to pay under the False Claims Act. Each man could face triple damages of up to $104 million...
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...
Shleifer and Hay could each face triple damages of up to $104 million arising from their liability under the False Claims Act, although the damages—to be assessed at a later trial—will likely be a fraction of that amount...