Boston-based Search Fund Accelerator will pay $550,000 to end a probe by Massachusetts Attorney General Maura Healey into its heavy use of unpaid interns, whom Healey claims were, in reality, full-fledged employees.
SFA oversees what are known as search funds, in which investors financially back an entrepreneur in his or her attempt to acquire and turn around a business. The firm has relied to a great extent on unpaid interns, Healey said in a statement. In a two-year period, SFA had more than 180…
