Bloomberg Exposes Possible U.S. Sanction Violations by Koch Industries
In an upcoming issue of Bloomberg Market Watch, to be released in November, an expose on Koch Industries reveals the company may have a number of skeletons in its closet.
From Business Insider:
- Koch Industries allegedly made improper payments to win business in 6 countries over 8 years (through 2008) — a potential violation of the Foreign Corrupt Practices Act. The company described them as ”activities constitut[ing] violations of criminal law.”
- Koch Industries sold millions of dollars of oil refining equipment to Iran — even after President George W. Bush described the nation as a member of the ‘Axis of Evil.’ The company maintains these sales were legal at the time, and says it has since cut ties with the rogue nation.
- Koch Industries allegedly stole 1.95 million barrels of crude oil pumped from federal lands by falsifying purchasing records, a Senate investigation found. Former workers testified to the “Koch Method,” described as trying “to cheat the producer out of crude oil,” by mis-measuring the oil.
- The company allegedly ignored federal regulations for pipeline safety — resulting in the deaths of at least two people in a pipeline explosion in Lively, Texas in 1996.
Koch Industries’ PR division has been working overtime since late last week, when news of the Bloomberg article first broke. Neither Charles or David have spoken to the press, regarding the article, although I’m sure we can expect an op-ed from one or both of them in coming days/weeks.
Something tells me that this time it just might not be enough though. It’s no phone-hacking scandal, but Koch Industries might be in some hot water if it turns out they violated the Foreign Corrupt Practices Act or violated our sanctions against Iran.
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