Word: schleifer
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During the late 1990s, media attention has focused on a Justice Department investigation into acclaimed Professor of Economics Andrei Schleifer '82 and his former colleague on HIID's Russian project, Jonathan...
...late 1990s, Schleifer's wife and Hay's girlfriend, both experienced professional investors, used the services of ILBE to inform their own companies' investments...
...time, Donald Pressley, an AID official, told the Wall Street Journal that AID may have "opened a gray area" when it allowed both non-profit and for-profit investors--like Schleifer's wife and Hay's girlfriend--to use ILBE...
...light of the scandal, AID rescinded the remaining $14 million of their $57 million fund for the project. HIID terminated both Hay and Schleifer. However, Schleifer remains a tenured professor of economics at the University...
Several years ago the government began to question how much Schleifer and Hay, two principal players in the HIID project in Russia, profited personally from their work and intimate knowledge of the Russian economy...