Foreign Company Admits Illegal Cash Donations to U.S. State Campaigns

[DearAbby]

A foreign subsidiary of U.S. corporate giant Koch Industries acknowledged making thousands of dollars in illegal contributions to state candidates between 2005 and 2009 and agreed to settle a case brought by the Federal Election Commission, the agency announced Friday.

The contributions came from Invista S.a.r.l., a chemical company, which is registered in Luxombourg but headquartered in Kansas, that is a subsidiary of Koch Industries. Koch Industries is believed to be the second largest privately held company in the U.S. and is owned by two brothers who are well known for their financial support to conservative political candidates and causes. The Federal Election Commission announced the settlement Friday, saying attorneys for Koch Industries came forward after an internal investigation determined their foreign-registered subsidiary had provided the money for the donations.

The company's submission "states that the violations resulted from a general lack of knowledge among company personnel of either the nature of INVISTA's legal structure or of the restrictions that applied to it as a foreign company," the FEC's general counsel wrote.

All but one of the seven political committees that received the illegal foreign money – which totaled more than $25,000 -- have returned the checks, according to the FEC. The recipients included state-level candidates from Virginia, Delaware, and Kansas, as well as a $15,000 contribution to the Democratic Governors Association made in 2007. (Invista's parent company, Koch Industries, gave over $1 million to the Republican Governors Association in 2010).




More http://abcnews.go.com/Blotter/foreign-company-admits-illegal-cash-donations-us-state/story?id=13979521

[leveymg]

1. This could as well be written about the political payolla handed out by Murdoch's global empire on

behalf of its foreign investors. http://journals.democraticunderground.com/leveymg/578

[DearAbby]

3. Thanks for the link

[Lone_Star_Dem]

2. A subsidiary of Koch Industries, I'm shocked!

I'll feign equal shock when it's announced the money went to RW politicians.

[muriel_volestrangler]

4. Here's an idea: if it's a subsidiary of Koch Industries, and headquartered in Kansas, make it pay US

corporate taxes instead. The Invista officials are obviously under the impression they are an American company if they try to contribute to American elections, so make them behave like one - and land them with a tax bill which should be a lot more than $4,700.

[DearAbby]

5. Kick

[Quantess]

6. time for a kick!