Bloomberg report says ‘Koch Brothers Flout Law, Getting Richer With Secret Iran Sales’

October 12, 2011

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(AP/Mark Lennihan)
David Koch, executive vice president of Koch Industries, now finds himself in a storm of controversy.

Brothers Charles and David Koch are well-known for their libertarian politics. But chances are you don’t know much about their conglomerate, Koch Industries. It’s one of the world’s largest privately-held companies, with subsidiaries in manufacturing, trading and investment and a massive array of everyday products. From toilet paper to tableware, you may find some of these items in your own household pantry.

Today, Koch Industries finds itself in a public relations nightmare after accusations the company sold millions of dollars of petrochemical equipment to Iran in an end-run around a U.S. trade ban. The company has also made improper payments to win business in Africa, India and the Middle East, according to a new investigation by Bloomberg.

Journalists Asjylyn Loder and David Evans authored the report, “The Secret Sins of Koch Industries,” which appears in the November 2011 issue of Bloomberg Markets Magazine. Their investigation offers consumers and investors an extremely unflattering look at the powerful multinational corporation. We talk to Asjylyn and David about the company's dealings with Iran and its underreported business practices around the world.

 

For more on the Koch Brothers, read Jane Mayer’s 2010 article in New Yorker Magazine.