posted on Jun, 28 2004 @ 10:04 PM
Three years after federal prosecutors filed a complex civil case against Harvard U.S. District Judge Douglas P. Woodlock had made his ruling...
Full Article: ABCNEWS.com
BOSTON June 28, 2004 — Harvard may have to repay millions of dollars to the government after a judge ruled that two of its employees advising Russian
authorities on privatization violated conflict-of-interest rules.
U.S. District Judge Douglas P. Woodlock's ruling came more than three years after federal prosecutors filed the complex civil case against Harvard,
employees Andrei Shleifer and Jonathan Hay, and their spouses.
The lawsuit arose out of work by the Harvard Institute for International Development in the 1990s to help the country shape its post-Communist
government into a modern, capitalist system. The U.S. Agency for International Development gave Harvard about $34 million for the "Russia
Please visit the link provided for the complete story.
The Justice Department claimed the investments violated the conflict of interest policy in the contract between Harvard and the agency.
They are asking for $102 million from Harvard, almost three times the $34 million that the university institute charged USAID. However the Judge found
Harvard did not know its employees were violating the contract and cannot be made to pay triple damages.
On July 19 there will be a hearing to find out how much Harvard will have to pay.
A stain on the great institution known as Harvard?
Some of the greatest minds of our time have passed through this place known as Harvard.
I hardly believe that this means Harvard was in collaboration with the enemy, or broke a contract with the U.S.A.
Harvard law school probably wrote the book on how to fight a case like this in one of their world famous law classes... Ironic?
[edit on 28-6-2004 by UM_Gazz]