From Bloomberg News (not a lefty or subversive news source). Unbelievable; long article but a must read.
In May 2008, a unit of Koch Industries Inc., one of the world’s largest privately held companies, sent Ludmila Egorova-Farines, its newly hired compliance officer and ethics manager, to investigate the management of a subsidiary in Arles in southern France. In less than a week, she discovered that the company had paid bribes to win contracts.
“I uncovered the practices within a few days,” Egorova- Farines says. “They were not hidden at all.”
She immediately notified her supervisors in the U.S. A week later, Wichita, Kansas-based Koch Industries dispatched an investigative team to look into her findings, Bloomberg Markets magazine reports in its November issue.
By September of that year, the researchers had found evidence of improper payments to secure contracts in six countries dating back to 2002, authorized by the business director of the company’s Koch-Glitsch affiliate in France.
“Those activities constitute violations of criminal law,” Koch Industries wrote in a Dec. 8, 2008, letter giving details of its findings. The letter was made public in a civil court ruling in France in September 2010; the document has never before been reported by the media.
Egorova-Farines wasn’t rewarded for bringing the illicit payments to the company’s attention. Her superiors removed her from the inquiry in August 2008 and fired her in June 2009, calling her incompetent, even after Koch’s investigators substantiated her findings. She sued Koch-Glitsch in France for wrongful termination.
Koch-Glitsch is part of a global empire run by billionaire brothers Charles and David Koch, who have taken a small oil company they inherited from their father, Fred, after his death in 1967, and built it into a chemical, textile, trading and refining conglomerate spanning more than 50 countries.
Koch Industries is obsessed with secrecy, to the point that it discloses only an approximation of its annual revenue -- $100 billion a year -- and says nothing about its profits.
The most visible part of Koch Industries is its consumer brands, including Lycra fiber and Stainmaster carpet. Georgia- Pacific LLC, which Koch owns, makes Dixie cups, Brawny paper towels and Quilted Northern bath tissue.
Charles, 75, and David, 71, each worth about $20 billion, are prominent financial backers of groups that believe that excessive regulation is sapping the competitiveness of American business. They inherited their anti-government leanings from their father.
Read the rest here.
Thanks for posting the links to the discussions. This is incredible, isn't it?
The Koch Method - pay less taxes and steal from the public
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,” my mis-measuring the oil
Read more: http://www.businessinsider.com/gop-mega-donor-koch-brothers-tied-to...
I haven't had a chance to read the entire article as I skimmed it but I saw that it was still occurring in 2009...I assume that this is no longer going on, correct?
Thanks for the important share Adriana..
Key line from the Koch Bros article:
“Corporate cultures reflect the priorities of the corporation and its senior officials.”
Amusing. The Koch Brothers see themselves as true, authentic Americans. Yet, if the Koch Brothers' industrial empire was a political regime, which would it be? (If you're clueless, the key words are: "corruption", "secrecy", "falsification and revisionism", "autocracy", "lack of accountability", "no dissident voices", "purge", "nomenklatura".)
First one to guess the correct answer wins a cookie vatrushka.
uh...hmmmm...lemme guess...uh...I can't quite put my finger on it....China? ":-P
The answer I expected is Stalinist Russia, so no vatrushka - sorry :P
China doesn't like foreign interference, but it at least accepts to play according to the 'rules of the game' outside of its own dominion. True, it may tweak these rules or even cheat, but it doesn't try to alter or abolish them as aggressively and radically as the Kochs do. Modern China is before all pragmatic, and certainly less militantly dogmatic than the USSR was, or than the Kochs are.
My reply was tongue in cheek, I even drew the little tongue :-)
Aaaah, you meant :^)