Word: usaid
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Dates: during 2000-2009
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Shleifer, then a project director for the now-defunct Harvard Institute for International Development (HIID), was accused by the government in 1997 of making private investments in Russia through family while administering the HIID Russia project under a pair of contracts from the U.S. Agency for International Development (USAID) totalling $57.8 million...
...project was suspended in 1997 after the government discovered Shleifer and Hay, along with their spouses, had made private investments in Russia while leading the privatization effort. Harvard’s contracts with the U.S. Agency for International Development (USAID) prohibited investments by employees in countries to which they were assigned...
...University itself was absolved of the fraud claims but could still face damages of up to $34.8 million for violating its contracts with USAID...
...government won a small victory yesterday in its ongoing lawsuit against Jones Professor of Economics Andrei Shleifer ’82 and Harvard as a federal jury determined that Shleifer was bound by crucial wording in the University’s contracts with the U.S. Agency for International Development (USAID) in the 1990s...
...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...