Foreign Assistance: Issues Concerning the Polish-American Enterprise Fund
OGC-99-61R
Published: Sep 14, 1999. Publicly Released: Oct 14, 1999.
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Highlights
Pursuant to a congressional request, GAO reviewed the structural changes undergone by the Polish-American Enterprise Fund and its management company to enable them to operate more like private venture capital companies, focusing on: (1) whether these structural changes were permitted by law; (2) whether the purchase of the Polish Fund's management company by its employees at book value was permitted by law and whether it favored the employees; (3) whether monies earned by Polish Fund management company employees contravened a $150,000 salary cap; and (4) how proceeds from the sale of the Polish Fund's assets will be distributed.
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