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From Bloomberg News (not a lefty or subversive news source). Unbelievable; long article but a must read.

 

Koch Brothers Flout Law Getting Richer With Secret Iran Sales

Q
Bloomberg Markets Magazine

Charles and David Koch, with singer Samuel Ramey at the New York City Opera's Theater Debut Celebration at Lincoln Center in New York in Nov., 2009. Photographer: Patrick McMullan/PatrickMcMullan.com

Oct. 3 (Bloomberg) -- Danny Smalley speaks with Bloomberg's David Evans about his daughter, Danielle Smalley, and the foundation which promotes pipeline safety that bears her name. In 1996 a leak in a Koch Industries Inc. butane pipeline led to an explosion that killed 17 year-old Danielle. The November issue of Bloomberg Markets magazine examines the history of some illegal and improper practices of the global empire run by the billionaire brothers Charles and David Koch. (Source: Bloomberg)

The cover of the November 2011 issue of Bloomberg Markets magazine.

David H. Koch, executive vice president at Koch Industries Inc., left, poses for a photo with Julia Koch during the opening night at the Metropolitan Opera in New York on Sept. 26, 2011. Photographer: Amanda Gordon/Bloomberg

Phil Dubose, photographed in Church Point, Louisiana on Sept 12, 2011. Phil is a former Koch manager, says company stole oil. Photographer: Brent Humphreys/Bloomberg Markets via Bloomberg

Judge Janis Graham Jack, photographed at the federal courthouse in Corpus Christi, TX on June 2, 2011. Photographer: David Evans

Sally Barnes-Soliz, a former Koch employee, is seen leaving federal court in Corpus Christi, Texas on Oct. 2000. She testified that the company filed a false report in Corpus Christi. Photographer: Corpus Christi Caller-Times via Bloomberg Markets

Bill Koch at the America's Cup at San Diego Yacht Club in 1992. His young son is next to him. Photographer: Dale Frost/Port of San Diego via Bloomberg Markets

Danny Smalley, photographed at the Smalley Fouindation in Texas, Sept. 15, 2011. Smalley started a foundation for his daughter Danielle after she died in an explosion at a Koch Pipeline. Photographer: Brent Humphreys/Bloomberg Markets via Bloomberg

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.

Obsessed with Secrecy

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.

 

Tags: Iran, Koch, Tea Party

Views: 68

Replies to This Discussion

 Bloomberg:

Koch Brothers Flout Law Getting Richer With Secret Iran Sales  —  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.

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 :^)

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