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Laureate Education launches FCPA probe into charitable donation

Jaclyn Jaeger | December 20, 2016

Laureate Education, a for-profit higher education institution, said that it is conducting an internal investigation into possible violations of the U.S. Foreign Corrupt Practices Act concerning an $18 million donation that one of its network institutions made in Turkey to a charitable foundation.

“We believed the donation was encouraged by the Turkish government to further a public project supported by the government and expected that it would enhance the position and ongoing operations of our institution in Turkey,” Laureate Education stated in a filing with the Securities and Exchange Commission.

Laureate Education said it has learned that the charitable foundation that received the donation disbursed the funds at the direction of a former senior executive at one of its network institutions in Turkey and other external individuals to a third party without Laureate... To get the full story, subscribe now.