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Firecracker, Love Letters Ignite #MeToo Moment in Finance

  • Wafra fired Frank Lively in April amid sex harassment claims
  • Sabine Kraut filed EEOC complaint, alleging unwanted advances
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Wafra Investment Advisory Group Inc. fired its head of real estate amid claims of sexual harassment, becoming the latest big investor embroiled in the #MeToo movement.

Francis “Frank” Lively was ousted in April after allegations by Sabine Kraut, a vice president at the Kuwait-backed firm, according to a complaint filed in New York Friday with the Equal Employment Opportunity Commission. Kraut, 45, said the harassment went on for at least six years, with Lively, 63, pursuing a romantic relationship despite her refusals. She alleges he made repeated physical advances on business trips, forcing her to change her travel accommodations, and sent her gifts and love letters.