• Short Summary

    The President of the Lockheed Aircraft Corporation, A.C. Kotchian, has admitted that his corporation paid?

  • Description

    The President of the Lockheed Aircraft Corporation, A.C. Kotchian, has admitted that his corporation paid out huge sums of money to foreign government officials to provide "goodwill and helpfulness" towards Lockheed.

    The admission came while Mr. Kotchian was undergoing intensive questioning in Washington by members of the Senate Sub-committee on Multinational Corporations.

    Mr. Kotchian said that Lockheed had paid more than one million dollars (500,000 pounds sterling) to a high official in the Dutch government. He told the Committee that the money was paid on a "quid pro quo" basis. He said the government official was expected to provide general goodwill and helpfulness towards Lockheed in its dealings with the Dutch government.

    When asked whether such "goodwill and helpfulness" was to do with the Government of the Netherlands buying Lockheed aircraft, Mr. Kotchian replied, "yes".

    He also revealed that the Lockheed Corporation had bribed government officials in Japan and Italy for similar services.

    The Corporation President said more than two million dollars (about 1.2 million pounds) had been paid to Japanese government officials to smooth the way for huge aircraft sales contracts in that country.

    None of the officials or officers involved in the bribery allegations was named. The hearing continues.

    SYNOPSIS: The President of the multi-national Lockheed Aircraft Corporation, A. C. Kotchian, has admitted that his company paid millions of dollars to bribe foreign government officials. Appearing before a Senate Sub-committee on Multinational Corporations in Washington, Mr. Kotchian said Lockheed had bribed government officials in the Netherlands, Italy and Japan. There were also allegations that officials in turkey and Sweden had been bribed by the company.

    Mr. Kotchian was appearing before the Sub-committee under subpoena. He had earlier refused to testify to the sub-committee voluntarily.

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    Reuters - Including Visnews
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