Investigation: Koch Industries Bribed Foreign Officials, Violated Iran Petrochemical Trade Ban

A new Bloomberg Markets Magazineinvestigation reveals that Koch Industries, the company run by Tea Party benefactors Charles and David Koch, has been involved in criminal activities around the globe for the past three decades. The damning article includes the following allegations, among others (via 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 constitute[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,” my 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.

You can read the entire 6,800-word article, written by Asjylyn Loder and David Evans, right here.

AlterNet / By Lauren Kelley

Posted at October 3, 2011, 7:30am