Word: shleifer
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Dates: during 2000-2009
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HIID does not exist anymore—it was disbanded in 2000. Between 1992 and 1997, however, USAID provided Harvard with $40 million for HIID’s operations in Russia. Andrei Shleifer directed the institute in the early years of the contract and remains a tenured professor in the economics department here. Jonathan Hay, his deputy working in Russia, has since been dismissed by the University...
...story goes, Shleifer invested $464,000 in Russian oil companies, securities and equities—an overlap with the area of the Russian economy that he was helping to develop, while Hay put $20,000 into a mutual fund that invested in Russian equities. Hay, it is claimed, also gave a $66,000 check to Shleifer for Russian investments. The woman Hay is now married to, his girlfriend at the time, was the primary owner of the Pallada Mutual Fund Management Company—the first fund registered to sell to the Russian public. Through HIID, Hay oversaw such registrations...
Becht added that the ECGI would remain happy with having Shleifer on board as long as Harvard didn’t object to his business dealings...
...long as Harvard University has no problem, we have no problem. If Harvard had a problem, then the ECGI would have a problem,” Becht said. “It’s a very delicate issue, but Andrei Shleifer is seen as one of the experts in his field...
...Shleifer, who was away from Cambridge this past week, was not available for comment...