Word: settlements
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...settlement came more than a year after a judge in U.S. District Court found Shleifer and Hay liable for fraud, after they made personal investments in Russia while advising the program for the now-defunct Harvard Institute for International Development. Conflict-of-interest provisions in their contracts with the government strictly prohibited such investments, which totaled several hundred thousand dollars...
...fraud allegations but still faced damages for breaching its contract with the U.S. Agency for International Development (USAID). In the agreement signed Wednesday, the University did not admit any liability but agreed to pay the full $26.5 million by Saturday. A Harvard spokesman said it was the largest settlement the University has ever paid...
...told, defendants in the case will fork over at least $31 million to settle the government’s suit. That includes last year’s $1.5 million settlement with FFIA, a firm owned by Shleifer’s wife, Nancy Zimmerman...
...part of the settlement, Shleifer and Hay agreed to a two-year disbarment by USAID, prohibiting them from participating in any of the agency’s programs. But neither Shleifer nor Hay acknowledged any liability...
Documents released by the government indicated that Shleifer had mortgaged his home in Newton, Mass. on Tuesday in order to pay a first installment of $600,000 in the settlement...