January 30, 2014

Harvard Endowment Profited From Corrupt Foreign Corporation?


[From article]
Scolopax is wholly owned by Phemus Corporation, a subsidiary of the Harvard Management Company that invests on its behalf. According to University tax filings, Scolopax had assets of over $126 million in 2011. Phemus Corporation’sassets totaled more than $4.2 billion in 2012, the last year for which information is publicly available.
University spokesperson Kevin Galvin said that Secu’s relationship with Scolopax and the University ended in December 2012. The alleged transactions occurred between 2007 and 2009.

So does that mean that Harvard University may have profited from illegal transactions? 

http://www.thecrimson.com/article/2014/1/29/harvard-timber-contractor-bribes/#

Former Harvard Timber Contractor Accused of Bribery, Money Laundering
By CHRISTINE Y. CAHILL
Harvard CRIMSON STAFF WRITER
January 28, 2014

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