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.
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.
Egorova-Farines wasn’t rewarded for bringing the illicit payments to the company’s attention. The U.S. FBI Hunting Hackers Who Took Down Koch Brothers' Websites. Koch Industries: Summary. The second-largest private company in the United States, Koch Industries is also a conglomerate, whose subsidiary businesses operate in some of the world's most profitable markets.
Given such a diverse portfolio, it's no surprise that the company has spent millions of dollars lobbying the federal government this past decade on a range of issues, from defense appropriations to financial regulatory reform. Koch's biggest industry, however, is petroleum refining -- OpenSecrets.org houses the company under the oil and gas industry -- and the bulk of their lobbying is related to energy issues. The company's lobbying totals skyrocketed in the two years since Democrats swept power in 2008, bringing with them a packed reform agenda that included legislation to establish a market based on carbon emissions. Koch is also one of the Republican Party's most reliable donors. Profile for 2014 Election Cycle. Koch Industries, Inc. Koch Industries, Inc.
Koch Industries. Coordinates: In 2013, Forbes called it the second largest privately held company in the United States (after Cargill), with an annual revenue of $115 billion,[5][6][7] down from the largest in 2006.
If Koch Industries were a public company in 2013, it would have ranked 17 in the Fortune 500.[8] History[edit] Predecessor companies[edit] In 1925, Fred C. In 1940, Koch joined new partners to create a new firm, the Wood River Oil and Refining Company, which is today known as Koch Industries. Koch Industries[edit] The company was renamed Koch Industries in honor of Fred Koch, the year after his death. In 1970, Charles was joined at the family firm by his brother David H. Recent News[edit] In April 2014, Koch Industries and the private equity arm of Goldman Sachs agreed to acquire printing ink producer Flint for around $3 billion.[17] Subsidiaries[edit] Among Koch Industries' subsidiaries across various industries[18] are: Georgia-Pacific[edit] INVISTA[edit] Koch family. Charles G.
Koch and David H. Koch — the two brothers still with Koch Industries — are affiliated with the Koch family foundations.[5] Family members[edit] Non-profit organizations[edit] The Koch family foundations are a related group of non-profit organizations that began with the establishment of the Fred and Mary Koch Foundation in 1953, and now includes the Charles Koch Foundation, the David H.
Political activities[edit] Members of the Koch family have given to conservative and libertarian policy and advocacy groups in the United States,[13] including think tanks like the Heritage Foundation and the Cato Institute, and more recently Americans for Prosperity.[14] Americans for Prosperity, founded by David Koch, is one of the main nonprofit groups assisting the Tea Party movement, according to Kenneth Vogel of Politico. See also[edit] References[edit]