You are herePrincipled Progressive: Foreign-Based Koch Subsidiary Caught Making Illegal Campaign Contributions
Principled Progressive: Foreign-Based Koch Subsidiary Caught Making Illegal Campaign Contributions
-By Matt Parker
July 2, 2011- When the US Supreme Court obliterated most campaign finance regulations in its ruling on the “Citizens United” case in January of 2010, many observers warned that the decision could lead to foreign corporations pumping money into American elections, among other serious consequences.
Now, well over one year later, we find out such a scenario did come to pass; a foreign subsidiary of an American multinational corporation contributed tens of thousands of dollars to American candidates and political organizations — as many as five years before the Supreme Court’s controversial decision. And the corporation involved is none other than Koch Industries.
According to reports and filings with the FEC, a foreign-based subsidiary of Koch Industries, the second-largest private corporation in the country run by two major conservative financiers, admitted to illegally contributing over $25,000 to political campaigns and political committees between 205 and 2009, well before the Citizens United case opened an even wider portal for corporate money to be funneled into American elections.
The company, a chemical outfit called Invista, is “registered” in Luxembourg and the money it contributed came from foreign bank accounts. The foreign cash bonanza was hardly partisan in nature. Though the Kochs are well-known as major contributors to Republican candidates and causes, the Invista foreign money went to GOP as well as Democratic recipients, including the Democratic Governors’ Association.