A Verizon subsidiary will provide New York City schools' phone and Internet services for the next two years with the approval of a $120 million contract by the Panel for Educational Policy. The panel signed off despite concerns over Verizon's alleged involvement with an Education Department consultant who is facing federal theft charges. Verizon, which has not been implicated in the theft, has been cooperating with federal authorities to return a portion of the $400 million it supposedly obtained from the possible fraud.

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